The Central Bank of Venezuela launches an Android App to con...
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The Central Bank of Venezuela launches an Android App to convert Bolivars to Petro-pegged Bolivar Soberano

The Banco Central de Venezuela, the Central Bank of Venezuela has propelled an Android app that permits inhabitants to convert the fiat currency “Bolivar,” to the recently created Petro-backed Bolivar Soberano.

The application is known as “Calculadora Soberana” or Sovereign Calculator. The calculations are straightforward and are not complicated as it just expels five zeros from the Bolivar to convert it to the crypto-backed money making a 1:100,000 transformations.

The application as of now picked up fame amid the press conference because it was installed nearly 10,000 times with 4.7 stars rating on the Google Play Store app. As per the report, the app was tested by approx. 200 people before getting the star rating. According to the description, the application moreover empowers customers to remain up with the most recent news and the information on money conversion.

In a tweet of the Central bank of Venezuela, an app is a tool for everyone and every Venezuelans.

La Calculadora Soberana es una herramienta para todas y todos los venezolanos, es el mejor aliado que tendrá el pueblo para entender y asimilar el proceso de reconversión monetaria.

#CalculadoraSoberana #BolívarSoberano

Descárgala aquí http://bit.ly/CalculadoraBCV 

— Banco Central de Venezuela (@BCV_ORG_VE) August 25, 2018

In the long stretch of July, Nicolás Maduro who is a Venezuelan pioneer reduced the nation’s fiat currency by 95% and furthermore changed over the new Bolivar Soberano to the current oil-upheld cryptographic money, the Petro (PTR). In the wake of making such steps, he affirmed the locals that Petro will be an alternate currency of Venezuela.

The locals of the nation were confused and confronted with limited money withdrawals. The circumstances had become awful in the country when some traders took advantage of the confusion and arrested for charging excessive prices.

Daniel Pena, the executive secretary of the Blockchain Observatory of Venezuela, claimed that the effect of Petro would be felt regarded inside three to a half year.

Sources said that the Petro had evaluated by the South American country before getting the title of an alternative currency. A year ago, when the Petro was issued, it was surrounded by various controversies like Venezuela’s National Assembly considered it as unlawful while the countries Brooking Institute guaranteed it to be valid digital currency.

Petro has been prohibited from American citizens during its dispute, and they are not permitted to invest into it, a move made by President Trump, however, Venezuela expressed it to be a publicity stunt.

All things considered, after seeing such a large number of difficulties the Petro currency has at last picked up its esteem and now being acknowledged by the Venezuelan Central Bank.

 

coinmag

Manisha is a freelance journalist with a passion for writing about food, travel, business, cryptocurrency and blockchain. Her interests are varied and her language is clean and descriptive.

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