Venezuela and Palestina agreed to start a binational bank with El Petro

[aviven]

https://www.telesurtv.net/english/news/Venezuela-and-Palestine-Start-Bi-National-Bank-With-Petros-20180507-0019.html

In my opinion, it is just another Maduro’s desperate attempt to artificially increase usability of El Petro

[Tipstar]

They are trying to create an alternative trading currency.
They are the countries most affected by embargo and IMF. It's just a start from the two. Soon we will be seeing many such regional projects to make the financial world free from the dictatorship of IMF.

[aviven]

They are trying to create an alternative trading currency.
They are the countries most affected by embargo and IMF. It's just a start from the two. Soon we will be seeing many such regional projects to make the financial world free from the dictatorship of IMF.

Actually, as far as I know, Iran, Argentina, Russia are planning to launch similar projects, so you are right

[apelopus]

Btw I heard from the news that Venezuelans and Iranians prefer bitcoin to their state-developed cryptocurrencies, so it’s not a big news that the authorities try to improve the situation on governmental level 

[jakartanthor]

Btw I heard from the news that Venezuelans and Iranians prefer bitcoin to their state-developed cryptocurrencies, so it’s not a big news that the authorities try to improve the situation on governmental level 

I don't know about Iran but it's bullshit about Venezuela. People here invest in El petro because they understand that it is only one way to avoid dollars in our economics

[SERGOSTAP]

It is surprising that such advanced steps make the countries, as it seemed before, very conservative and far from the technologies of the future.
It will be very interesting to see what happens.
Who knows, perhaps this is the beginning of a new economic and financial reality.

[VikAn80]

I think it's just an attempt to open a Bank without a government loan. If earlier it was necessary to take a huge loan, now you can come up with a token and hope that its price will go up.

[Takada90]

https://www.telesurtv.net/english/news/Venezuela-and-Palestine-Start-Bi-National-Bank-With-Petros-20180507-0019.html

In my opinion, it is just another Maduro’s desperate attempt to artificially increase usability of El Petro

But there is no point in increasing usability of El petro. Because people will gradually understand the need to use it. I mean, now that El Petro has only been launched it of course is controversial BUT NONETHELESS VERY PROMISING.
And I've found an article recently, it says what steps need to be made in order to make Petro profitable.
You can read if you want. The one step I like most is about selling El Petro only in bolivars to avoid dependence on international currency.
https://m.aporrea.orgactualidad//a263478.html
P.s. about the Palestine bank. I think it's totally ok for any ICO to make actions in order to become accepted worldwide and there's no need to talk about something artificial. You judge it only because you think of venezuelan government. But if it was any other government you would say wow what a progressive step

[manoj6233]

 Venezuela and Palestine announced the creation of a Binational Petro Fund to ... Venezuela and Palestine have agreed on a series of measures to improve ... nuestra criptomoneda Petro, y se cree un fondo binacional, para el ... that has already listed Petro (PTR) and is waiting for trading to begin soon ...

[Irvinn]

It is surprising that such advanced steps make the countries, as it seemed before, very conservative and far from the technologies of the future.
It will be very interesting to see what happens.
Who knows, perhaps this is the beginning of a new economic and financial reality.

Indeed, it is very interesting to observe the development of the Venezuelan El-Petro. However much Maduro's president is criticized, he did a great deal to promote this coin to avoid international sanctions. It turns out that sanctions can also serve as an engine for progress. Apparently, his people support it, since he was again re-elected in the presidential elections the other day.

[honghe99]

Strong support for cooperation between the two countries is an economically passive country. Only together can survive. It is hoped that this bank will bring tremendous economic growth to both countries. Improve people's living standards.

[Red-Apple]

they created a currency using blockchain technology and now they are trying to make usability for it. i don't see where the "desperate attempt" part is though!
in fact i think this is a good thing specially since the creation of Petro in Venezuela has led to a lot of education for people about cryptocurrencies in general and people have been becoming a lot more interested in bitcoin than ever before.
and Petro is their creation, it is like them saying "we want to pay you in Venezuelan bolívar"! which is their local fiat.

[Jobbernowl]

Maduro is a very good player. It fuels public interest all the time. Even here in the forum, Venezuela is discussed more often than China.
We must pay tribute to him. He didn't just release a coin. He also develops its popularity. The news is constantly coming out. He does his best to draw attention to this.
We may treat him badly as a person or as a ruler. But everyone agrees that he is doing a lot to popularize cryptocurrency in the whole world.

[herromerro]

Hope someday people won't depend on USD for international transfers or more. At least phisically.

[cryptogeek101]

https://www.telesurtv.net/english/news/Venezuela-and-Palestine-Start-Bi-National-Bank-With-Petros-20180507-0019.html

In my opinion, it is just another Maduro’s desperate attempt to artificially increase usability of El Petro

This is what is called international diplomacy. The two countries, Venezuela and Palestine are forming a political block to maybe to defend their sovereignty, be it trade,education and technology. Since the establishment of Petro token through the blockchain, the currency can serve as their payment currency, making it easy for both countries to interact financially.

[BogdanGFTP]

I think El Petro does not have perspectives to increase. It is highly centralized and Maduro is not the man who inspires trust like Pavel Durov for example.

[coupable]

Btw I heard from the news that Venezuelans and Iranians prefer bitcoin to their state-developed cryptocurrencies, so it’s not a big news that the authorities try to improve the situation on governmental level 

I don't know about Iran but it's bullshit about Venezuela. People here invest in El petro because they understand that it is only one way to avoid dollars in our economics

May be i know about Iran and it's also a bullshit because Iran have to Obey international treatements about all its movements in her world arround as OPEC and EU when Iraniens doesn't even know about the crypto ecosystem.

[jakartanthor]

I still hope that this initiative will be successful as it is very progressive. We now know that trading with India failed, but I can't think that this bank situation will meet the same result