Categories: Bitcoin

Venezuelan Crypto Petro Receives the Satoshi Nakamoto Prize in Russia

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Despite all the doubts and controversies surrounding the challenge, El Petro, the Venezuelan cryptocurrency, has not too long ago acquired the Satoshi Nakamoto Prize from the Russian Cryptocurrency and Blockchain Association (RACIB) for its ‘outstanding contribution to the development of the blockchain industry’, in line with the official neighborhood.

The awards ceremony was held in Russia and was attended by Venezuelan ambassador Carlos Rafael Faria Tortosa. In addition to “El Petro”, the awards ceremony that occurred at the World Trade Center throughout the BLOCKCHEINF-2018 worldwide congress held by Racib had one other twelve winners in totally different classes. Racib is a corporation lively in the Russian blockchain business and has a number of members from conventional and Fintech sectors, together with governments.

The award reinforces suspicions about the involvement of Russian officers with Venezuela’s challenge. According to Telesur, Deputy Minister of Industry and Commerce of the Russian Federation Oleg Nikolaevich Ryazantsev was in Venezuela in April to debate cooperation with the Latin American nation in a number of areas, together with the adoption of Petro as a type of fee amongst nations. The proposal was introduced by Wilmar Castro, vice chairman for the Venezuelan financial space.

Recently, a much-publicized Time report claimed that Russian President Vladimir Putin immediately greenlit Russia to assist the Venezuelan crypto challenge. According to the publication, Denis Druzhkov and Fyodor Bogorodsky had been the intermediates of the initiative. Mr. Druzhokov is CEO of Zeus Trading. Mr. Bogorodsky has been described as the director of the firm Aerotrading, whose web site consists of a single house web page, with none additional related details about the firm. He was convicted in the US for fraud in future contracts and these days lives in Uruguay. Both firms had been introduced by President Maduro as members of the challenge. The Russian authorities has denied any suggestion of its involvement in the PEtro.

The Venezuelan Congress has already declared that the forex is against the law and unconstitutional, and the nation’s National Assembly has additionally not too long ago denounced cryptocurrency as a fraud and a menace to potential buyers. On the different hand, the Chinese company Dagong mentioned it’s reliable.

US President Donald Trump has proven himself to be against Maduro’s cryptocurrency and not too long ago signed a constitutional order banning the Petro in the United States.  In addition, in line with a survey carried out by the Criptomoedas Fácil together with the CLC, President Nicolas Maduro might have introduced false numbers on the complete funding collected throughout Petro’s ICO. Despite all this, President Maduro has persevered with the challenge and even plans to launch a brand new token, the Petro Gold. It could be backed by the nation’s gold reserves, thought-about the second largest gold reserve in the world, with the potential to extract seven thousand tons.

Featured picture from Shutterstock.

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