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The Corporación de Cemento in Venezuela integrates Petro as a payment method

September 7, 2020

Via the web portal of At the Socialist Cement Corporation in Venezuela «CSC», users were informed of the availability of payments for products and services related to this state institution via the digital currency Petro.

The information has been replicated to their official Twitter account by the SUNACRIP Antwerp Coin approved local exchange. There you can see the picture that is shown on the CSC website urges its customers to pay for products with the digital currency of the government of Nicolás Maduro in order to “contribute to the economic development of the country”.

To access this payment method, Users must register on the company’s official portal through the “SACPRO” customer service and product programming system. As soon as the orders for the respective products have been placed at the time specified by the official body, You can access the specified payment methods, including from now on the digital currency El Petro “PTR”.

The Corporación de Cemento in Venezuela integrates Petro as a payment methodThe Corporación de Cemento in Venezuela integrates Petro as a payment method

Expanding the means of payment with the Petro in society is part of the goal of the Maduro government, a centralized project plagued by controversy and shortcomings that has not yet begun to give usefulness.

However, the CSC announcement is nothing new in terms of implementing Petro as a means of payment. According to an official press release on its website, in March last year the company sold 2,777 tons of cement and 2,478 m3 of concrete to the regional government of Aragua in the center of the country, paid for with 6,000 petros.

“The payment mechanism through the Petro App platform will open up new economic policies aimed at the financial growth of the country where Aragua has joined this important and novel modality,” said then Regional Manager Marco Torres.

Uses of Petro in Venezuela

The utility of the digital currency issued by the government of Nicolás Maduro in Venezuela was essentially a payment instrument for official bodies. Despite the efforts to promote widespread acceptance in the economy since the presidency of Petro, there is still a long way to go.

In theory, in 2019, the government made the use of the currency mandatory in various strategic economic sectors in the country, starting with its use for the sale of 4.5 million barrels of oil in international markets, which has not yet been realized

Likewise, the sale of 1 million tons of iron, administered by the official Corporación Venezolana de Guayana, was decreed by the President of the oil country in the speech of Memory and Account of the year 2019.

Now that the Socialist Cement Corporation is accepting payments in Petros, there are three strategic commodities that Venezuela’s public administration is looking to promote to make greater use of digital currency indoors.

However, Uses are still very ambiguous and only a subset of the population with internet access and smartphones can access Petro’s technology to pay or save. something that has been available on the government platform Patria since 2018.

In this sense, digital currency holders can use their Petros to pay for government procedures such as passport renewal, fees in registers and notaries, payment of taxes at airports, and business procedures in institutes related to water spaces and pipelines. , among other.

To the last, The government has initiated the use of Petro to pay for petrol at the petrol stations connected to the Patria system so that part of the population can have access to fuel for the fleet, if available at a special price at the agreed points.

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