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Now the real challenge for the financially-struggling country begins - finding more investors willing to put their money in a country plagued by economic and political issues.
- Swiss financial watchdog FINMA said on February 21 that it is investigating several Swiss banks over whether they followed anti-money laundering rules amid a widening $1 billion graft probe involving Venezuela's state oil company. But for now, proponents of this digital token called Petro, are basking and touting it as a success. The US imposed against the country by economic sanctions for the persecution of opposition representatives.
Maduro didn't seem to hide from that belief either.
"The Petro will most likely suffer all of the same ills as Venezuelan debt", said David Smilde, a sociology professor at Tulane University, an expert on Venezuela's economic conditions.
"Today, a cryptocurrency is being born that can take on Superman", he claimed at the launch.
Caracas said that each unit of the petro is pegged to the price of one barrel of Venezuelan oil.
In a recent tweet, Venezuelan oil minister P.P. Petróleo revealed that Maduro has ordered the country's state energy company, PDVSA, to close a few deals using the coin.
Venezuela is introducing a new cryptocurrency as the economy struggles to cope with USA sanctions and hyperinflation.
"Every single Petro will be backed by a barrel of oil".
In a letter to the treasury secretary, Florida Senator Marco Rubio and New Jersey Senator Robert Menendez wrote: "We have serious doubts about whether Venezuela has the capacity to launch a cryptocurrency..."
One interesting detail that was revealed is Russia's involvement.
The blockchain technology experts have warned that Petro is unlikely to attract significant investment.
Despite being previously disclosed in a whitepaper provided by the government, the petro will not be a token on the Ethereum network. The white paper doesn't do a great job of defining the difference between pre-sale and actual tokens, but says 82,400,000 will be sold. The cost of all 100 million tokens would be slightly over 6 billion Dollars, according to data provided by Nicolas Maduro in recent months, although no new price information was provided.
The 17.6 percent of tokens not market for public sale "will be retained by the Venezuelan Superintendency of Currency and Related Activities (SUPCACVEN)".
The government was expecting to draw investment from investors in Turkey, Qatar, the U.S. and Europe, according to the Venezuelan Cryptocurrency Superintendent Carlos Vargas.
It's the claim that USA investors are among the Petro buyers that is raising eyebrows.
The beleaguered South American country outlined its plans on a new website built for petro.
Even the U.S. Treasury Department has warned Venezuela that if the situation demands it may violate the sanctions levied a year ago.
Friday's indictments said the Russians' main goal was to "sow discord" among Americans about the US elections. In a December 2016 interview with Time magazine, the president-elect said, "I don't believe they interfered".
For the time being at least, good, old friend Fatih Birol seems to be having an upper hand in his ongoing battle with Falih. Back in 2014, United States shale production was growing so fast that it ended up crashing the market.
Team LeBron overcame Team Curry in one of the most closely and intensely fought All Star Games in a very long time. There was sufficient doubt the novelty of a new format would translate to the court after tip-off.
The Department of Health recommends New Mexicans talk with their healthcare provider or pharmacist about getting the flu vaccine. Of the influenza A viruses, 89.9% were influenza A (H3N2) and 10.1% were influenza A (H1N1) pdm09 viruses.
It is clear, from Turnbull's position on Joyce, that individual ministers are able to decide if they comply with the code or not. In an unusual move, he will not be standing in for Turnbull when the prime minister visits Washington next week.
Video of the slalom hill showed that it was a complete whiteout, making the decision to put off the event look wise . Female Alpine skiers aren't the only ones who have dealt with weather issues at the 2018 Olympics .
Tyler Nicholson of North Bay, Ontario finished just off the podium and ended with a 76.41, which he scored in his second run. The big air finals are set for February 23-24 at Alpensia Ski Jumping Centre.
Or Friday at Riviera, where boisterous fans inserted themselves into the action on the field. "It was just one of those things". Whoever is teeing off at 8:30 in the morning doesn't get that and can just go about his business and do his thing.
New Pennsylvania Congressional Map Splits Centre County
When justices first declared the previous map unconstitutional on January 22, they ordered the GOP-controlled legislature and Gov. Saccone holds a three-point lead over his Democratic opponent Conor Lamb, according to a recent Pittsburgh Post-Gazette poll .
White House clearance procedure tightened
He said additional information was turned over to the White House this month, maintaining that proper protocols had been followed. Wray this week also pushed back against the idea his agency did anything improper in its handling of Porter's clearance.
Trump gets recommendations on tariffs for steel imports
Instead, he is recommending draconian tariffs and import restrictions that will increase costs and endanger American jobs. The US imported 34.5 million tonnes of steel in 2016, according to Commerce Department figures .
Men's downhill postponed until Thursday due to wind
Officals from the International Ski Federation (FIS) were meeting Monday morning to try to determine a new schedule for the week. Also on Monday, snowboard women's slopestyle final has been delayed due to bad weather.
Sea Of Thieves PC Requirements And Recommended Specs Announced
Thankfully, if the Sea of Thieves PC specs are any indication, the game may be better optimized for the platform than expected. According to PC Gamer , design director Mike Chapman confirmed that there will be no microtransactions at all at launch.
Coordination committee sacks Farooq Sattar as MQM-P convener
His aides had established that it was not the matter of Senate elections but it was the issue of taking over the party, he added. Addressing a general workers' meeting here, Sattar announced conduct of intraparty elections at KMC Ground on February 17.
NASA breaks record for pictures taken farthest from Earth
The spacecraft's camera will continue to set image records as it flies by a Kuiper belt object called 2014 MU69 in January 2019. New Horizons snapped these two farthest-out shots, of Kuiper Belt objects (KBOs) 2012 HZ84 and 2012 HE85, on December 5, 2017.