That was 2 weeks ago. Development has already started.

The President of Venezuela made this announcement earlier this month.

Feel free to watch the video here: https://www.reuters.com/article/us-venezuela-economy/enter-the-petro-venezuela-to-launch-oil-backed-cryptocurrency-idUSKBN1DX0SQ

Introducing Petro, a Venezuelan cyrptocurrency backed by oil and gas exploration throughout the country.

Our plan is replacing the Bolivar in Venezuela for Petro and improve the Venezuelans quality of life with a better cryptocurrency.

Do you want to help Petro?

Open an issue in the Github repo explaining how you want to help: https://github.com/getpetro/petro

Team
Founder, José E. Lopez (Previously Executive Management, Banesco)
Director of Operations, Oswaldo Cisneros (Previously President, Corporación Digitel, C.A.)


Petro = ERC20 token
NO PREMINE
No cap
1 ether = 100,000 PETRO

Crowdsale contract address: 0x9D5A6F617fbD868802E9dE669D11981D70235288

Crowdsale startsdate: Wednesday, 27 December 2017
End date: Sunday, 4 March 2018

ROADMAP:

Dec 2017:

- Add compatibility with Classic Ether Wallet.
- Start a Medium blog in Spanish teaching as use Petro to buy/sell goods and services. Education is our best weapon.

Jan 2018: After this crowdsale

- Bitfinex as the first exchange for Petro.
- Didactic mobile to teach Ethereum ecosystem and how to use Petro. (First version will be for Android only)

Feb 2018

- Join Yobit or HitBTC exchanges.
- Start research to launch Petro as a Monero fork coin. All investors will receive the same amount of Petro in the new blockchain.

March 2018

- Publish Petro Coin Whitepaper.
- Launch Petro Coin testnet.

Apr 2018

- Launch Petro Coin main net.
- Join to Bittrex or HitBTC.

Q2-Q3 2018

- Launch a web-based wallet and browser extension compatible with Petro and Monero.
- Publish extensions for Prestashop, Magento, Woocommerce to receive Petro.
- Get more exchanges.


Do you wish more features? Please tell us in this thread.

NOTE: We will not premine for ourselves ever. All premine coin in the Petro Coin blockchain will be only for our investors.


Big Announcement

We are changing the rules for this crowdsale

If you invest in this crowdsale, you'll receive 2x1.

What's it mean?

If you buy PETRO during crowdsale, you will receive 2 Petro Coin in the new blockchain for each PETRO obtained. (See roadmap)

Example:

- You buy 100,000 PETRO.
- You will receive 200,000 PETRO coin.

But, that's not all!

If you acquire Petro after this crowdsale, you will receive 1:1 Petro Coin.

Example:

- You've purchased 200,000 PETRO from this crowdsale.
- You buy 100,000 PETRO from exchange (Bitfinex)
Total tokens held in your address: 300,000 PETRO

When the new Petro blockchain has deployed you will receive:

400,000 PETRO (2x1 crowdsale)
300,000 PETRO (1:1 conversion) 200k acquired from crowdsale + 100k acquired from an exchange.

If you hold Petro, you'll receive more Petro Coin.


We will check the holders from the smart contract transactions history.