Venezuela could create and adopt other cryptocurrencies, according to official sources

The announcements by Venezuelan President Nicolás Maduro about the creation of a Venezuelan cryptocurrency and a blockchain observatory for the growth of the ecosystem in the Latin American country put the criptoentorno foci in the southern hemisphere.

In line with this issue, CriptoNoticias managed to converse exclusively with Camilo Torres, Vice Minister for the Technological Development of Information and Communications, in search of details about the new digital currency, which according to Maduro will be backed by Venezuela's oil reserves. .

The Vice Minister announced that the project to use oil as a backing for the Venezuelan cryptocurrency is just one of those that they plan to develop, since the creation of more than one digital currency has been proposed.

We are not talking about a currency, they can be different types of assets. They can be different types of currency. This is something that strengthens all scenarios. We could talk about one for gold or one for diamond. Even currencies not backed by these assets.

Torres clarified that the project is still in an immature stage, so the blockchain network that will support the cryptocurrencies to be developed may or may not be decentralized, and clarified that for the case of those backed by natural resources, everything depends on "the strategic line let them persecute. "

Also, the Venezuelan official said that the Blockchain Observatory will work in a similar way to its counterparts in the international arena, and will have the participation of private and public industry to develop innovations in this matter. With respect to the participating actors, Torres stated that the Venezuelan government is in talks with the public and private banks of the country, as well as with developers and companies mainly from the private sector.

We must bear in mind that these statements take place after Venezuelan President Nicolás Maduro announced last Sunday that the Venezuelan government opens the big doors to blockchain technology with the creation of the country's Blockchain Observatory and the future launch of its own cryptocurrency, which could be called Petro -according to the vice minister this name could vary-, because it is backed by the country's oil reserves.

We will have to wait a couple of weeks to know who will make up the board of directors of the Blockchain Observatory and especially the roadmap for the launch of the Venezuelan cryptocurrencies. For the moment, you can enjoy the full interview available on our YouTube channel.