The Petro coin based on Nem?

So is the new Venezeula crypto based on Nem?

wow rather quiet on the responses here…
am I missing something?
Cheers
Dan

If thats so that would be great news :smile:
But where did the news came from … or we can read it back

Google “Petro coin Nem”.
There is a lot of info on it.

Yes. The Bolivarian Republic of Venezuela. It launched its first cryptocurrency “Petro”, backed by oil reserves, and its value is one barrel of oil, that is 55 dollars for each Petro.

We had to do it, as a way to break the international financial blockade, which does not allow us to buy food, medicines and supplies, even having enough dollars.

We believe that NEM is an opportunity to create a new international economy that is fair for all. And that’s why we trust and bet on NEM

Intetesting, hope it all works out.
cheers

Please my friends, do not believe in all the ugly things and “fakenews” that are said against Venezuela. The international media attack us, because we want to break this system that in a few years will extinguish humans. We only want a fairer world, and that is why they attack us.

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There’s no answer to that

May I ask, to whom does “We” refer to? and are you an official representative from the Venezuelan government?

If yes, this mean that Petro is built based on NEM blockchain and the value is backed by oil reserves. So, how can I calculate the value then? Is 1 Petro is equivalent to 1 oil barrel?

How can I buy Petro and what is the three symbol characters of this currency? I found PetroDollar (XPD) in coinmarketcap.com. Is it the same currency or not?

Thanks in advanced.

Greetings why2, I’m not a government representative. I am just enthusiastic about new ideas that promote the change of the oppressive system.
NEM implies a movement of a new economy. On Petro’s white paper, they also look for that.
NEM opens a door to a world free of domination of the dollar and the international financial system.
So my friend, believe me that when i say “We” , I say that we are the excluded, ignored that we want to change the system.

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So far, there are 3 billion dollars in Petro’s purchase offers. 171,000 offers that Petro has received, have been made by 87,284 users, of which 3,523 are companies from different countries of the world and 83,761 correspond to individuals.

China Dagong International Credit Rating Group, consider that the Petro represents an innovation that provides new ideas to reform the existing international monetary system, where dominates US dollar pattern in coexistence with other currencies such as the Japanese Yen and the Euro.

The government of Venezuela published in the Official Gazette 41,347 of February 23 a decree confirming the cryptoactive petro as backed by the heavy and extra heavy crude reserves found in the area corresponding to the Orinoco oil belt.

In Decree No. 3,292, the potential development of 5.342 billion barrels of Original Petroleum on Site (POES), both heavy and extra-heavy, is determined as support for the implementation of financial and commercial exchange operations through cryptoactive. This would allow the entities responsible to legally carry out activities of commercialization of cryptocurrencies that use the oil of the national reserve specified as collateral.

This figure of the barrels of oil accounted for in the reserves is given by an independent international certifier located in Block Ayacucho 01 of the Orinoco Oil Belt. The name of said company was not disclosed.

The publication of said decree issued by the Presidency of the Republic ends formalizing the launch of the controversial token generated by the Venezuelan State.

The first appearance of this type of asset in an official gazette occurred with Decree No. 3.196 contained in the Extraordinary Gazette, where the president of the South American country made official through the Official Gazette the creation of the Superintendence of Cryptoactives of Venezuela. This entity is currently in charge of issuing “through auction and allocation” of the national cryptocurrency the petro, as well as future related activities that may be implemented in the future.