Based on the most recent reports from local sources, Nicolas Maduro, for every Venezuelan citizen who registers for the PetroApp government, the Venezuelan president has declared an airdrop of 0.5 Petros. The oil-backed cryptocurrency will be airdropped as the launch was not the desired success of the government. The people should sign up for the official government crypto wallet launched in May, PetroApp, to be registered. PetroApp is the only platform that supports cryptocurrency and it is backed by oil. The platform is designed to allow users to purchase goods and services from their phones and it also allow them to make daily transfers. What does it do more than just a regular wallet? Bitcoin, Litecoin, and Dash are currently supported by the app.
It is hoped that this move would allow Venezuelan citizens take on the digital currency instead of the cost-sunk Bolivar. The country has experienced massive political issues since Maduro has not been recognised by the international community, including America, as the true leader of the nation. The sanctions were imposed on the county and inflation is being soared.
Now the country is trying to use Petros to round off some of the sanctions and make oil-related transactions, and last month there were only 400 companies accepting payments in Petros.