Venezuela is making a lot of progress in the field of digital currency. Recently, the Government announced that it would be authorizing the certification of about 16 digital currency exchanges.
Now, this step will play a lethal role to promote Petrol in the international market and people will be able to manage the Petro transactions with immense ease. This step also shows that the Government has confidence in the digital currency and wants to offer solid volume for the transactions.
The exchanges that have been granted the certification are Coinsecure, Criptocapital, Criptoexchange, etc. Coinsecure is one of the Indian exchanges that has been granted the certification. Apparently, it seems that Venezuelan Government was keen to add Petro as a digital currency on Coinsecure.
This way it will become easier to trade Petro against the Bitcoin. Plus, Venezuela has decided to grant some additional incentives to India if they use the Petro. Venezuela has offered a discount of about 30% on the crude oil provided India agrees to make use of the Petro.
Venezuelan Government strongly believes that Petro is more of an economic miracle and this is why they want to use this digital currency to their benefit. At the moment the Venezuelan Government is working with a solid strategy in hand.
The way they are promoting Petro is surely going to make it a success globally. Plus, the exchanges that are granted the certification by Venezuelan Government will be more than eager to make use of this digital currency.
Now, what the Government of Venezuela needs to do is that they should continue their efforts if they want to acquire ongoing success for Petro. As soon as Petro achieves global acceptance, it will benefit the Venezuelan Government more. If this milestone is achieved, then this will pave the way for digital currency investments in Venezuela.
At the same time, the Venezuelan Government is going to face some challenges as well. The biggest challenge is that the Government needs to maintain the element of transparency in digital currency investments. If the element of transparency is not there, then unregulated exchanges can acquire benefit from this situation.
Ideally, the Government should follow the proactive approach and plan out the measures in advance to avoid any unforeseen trouble in the progress of Petro. This way success is bound to come easily for Petro and people will start to confide in this digital currency is simply no time.