Venezuelans will be able to buy houses for government cryptocurrency petro

Venezuelans will be able to buy houses and other property for the state of new cryptocurrency. C April 20 will be permitted real estate transaction in petro, said President Nicolas Maduro. The government will also Finance the construction of the 236,000 new homes, using funds from pre-sale of the cryptocurrency provided by oil.

All citizens and legal entities of the Venezuelan public can buy the cryptocurrency through its official website and soon they will have the opportunity to spend their petro. The Venezuelan President said that the government will create four special economic zones to encourage turnover of petro. They will be located in Los Roques, Paraguana, Orenji and on Margarita island. The price of goods and services in these zones will be presented in a new cryptocurrency released by the government.

Last month Maduro allowed all savings banks in the country to use petro. He later said that all the state institutions carrying out transactions with foreign currency had been instructed to do the same. Maduro also said that within 30 days of sales
cryptocurrency Petro, the government received more than 200,000 orders from 133 countries at 5.25 billion dollars. The President also noted that petro tokens may be purchased for the Russian ruble, Chinese Renminbi, Turkish Lira and euros, as well as for cryptocurrencies: BTC, NEM and ETH.

Last week Maduro said that since the launch of national cryptocurrencies in February was sold 82.5 million tokens petro. The government intends to use $ 735 million received under the pre-sale, to Finance the construction 236 000 new homes. The authorities plan to build by 2019 a total of 3 million apartments under the housing project, launched in 2011. It is assumed that for these purposes will be allocated 14 000 hectares of land belonging to the state.

In addition, Nicolas Maduro rejected the new sanctions imposed by the White house by order of the President of the United States Donald trump, who banned American citizens and legal persons to conduct transactions with the Venezuelan cryptocurrency. «Venezuela rejects the action against petro,» said Maduro, adding that these sanctions are intended to damage the economy of his country. The President also announced that Venezuela will host the international conference devoted to the blockchain and cryptocurrency – it will be held in mid-April in Caracas.

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