Can the Petro Cryptocurrency Save Venezuela from Financial Collapse?

Colleagues, Venezuela announced its “Petro” cryptocurrency last December as a means of bolstering is crippled economy and yes, evade US economic sanctions. As reported by MarketCoinCap the Petro has fluctuated widely since its inception. President Maduro's government has claims to have raised billions of dollars during a presale I early 2018, however, evidence is tenuous at best. The Cryptocurrency Academy anticipates many state sovereign banks will launch their own digital currencies for legitimate reasons in the coming 12-36 months. The U.K., South Korea, Japan and possibly the Ukraine come to mind. Bottom line: With little if any reflection on the global crypto ecosystem the Petro represents little more than a desperate move by the Venezuela’s socialist government to save itself from finance ruin. With respect for all authentic cryptocurrencies and ecosystem players worldwide we strongly be that what Venezuela needs is competent and democratically elected government, not a cryptocurrency. We expect both the Petro and the current Venezuelan dictatorship to be short-lived. Send us your thoughts today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)