More than 26,000 Petros have Maduro to set up community banks in Venezuela

Venezuela President Nicolás Maduro announced the allocation of resources in the national digital asset El Petro for the creation of community banks in the Latin American country. according to local media.

“This is how the new state, the new economy, comes into being. You need to track down to the last resource flow to see if it gets where it should. “President Maduro said during an address on the pro-government newspaper UltimasNoticias.

Maduro hopes this new measure will enable the “decentralization of public finances”, noting that his executive platoon has worked “in silence” on this measure to ensure that the Petro is connected to the Venezuelan economy and cryptocurrencies in general .

“Nobody used to talk about cryptocurrencies and now Venezuela is leading the way with the Petro,” Maduro added during his speech.

More than 26,000 Petros have Maduro to set up community banks in Venezuela
More than 26,000 Petros have Maduro to set up community banks in Venezuela

In addition to the disbursement to the municipal banks, the president said he had allocated 29,623 petros to textiles and other productive projects, giving a total of 56,306 petros to stimulate the local economy.

Maduro emphasized that he had a total of 269 proposals for the creation of community cities across Venezuela and emphasized: “This is how the new state, the new economy, will be built.”

It is not the first time that the president of the South American country has provided funds in digital currency to stimulate the ailing economy the former oil power and reference for progress in the 20th century.

The executive’s announcement is part of the president’s strategy to promote a digital economy in the country, an aspect recently highlighted in January this year by the National Experimental University of Telecommunications and Informatics “UNETI” through a series of series programs.

The main objective of these programs is to strengthen the technology and digital economy in the Caribbean country, promote the crypto-economy inside and outside Venezuela’s borders, and educate the population in the field of technological innovation.

Nicolás Maduro stated in his speech to the National Assembly on January 13, 2021 that currently in Venezuela 77 percent of commercial operations are carried out digitally in bolivars and only 20 percent in cash due to the progressive disappearance of the National Assembly due to the high inflation affecting the South American currency cone Land burdened for more than a decade.

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