Venezuela Breaks Record as the First Country in the World to do a Nationwide Cryptocurrency Giveaway For Qualified Citizens.
According to a local news source El Universal, Venezuelan President Nicolas Maduro announces a nationwide cryptocurrency giveaway as a holiday bonus for public sector workers, retirees and the military.
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The cryptocurrency giveaway will be done through PetroApp, a state owned cryptocurrency payment platform for the citizens. Qualified citizens for the airdrop will receive a Petro Airdrop into their PetroApp on Friday Dec 20, 2019.
To qualify for the Petro giveaway, eligible citizens will have to sign up to PetroApp, the only app supporting the oil-packed cryptocurrency.
PetroApp helps the citizens to purchase goods and services from their phones, and also for standard transfers. It can also be used to purchase other cryptocurrencies like dash, bitcoin and litecoin.
Maduro said that the petro giveaway will help to encourage Venezuelans adopt the use of petro cryptocurrency. The petro cryptocurrency has been in circulation and readily available for purchase since October 2018.
The petro airdrop of 0.5 petro is said to worth $30 which is far higher than the country’s minimum wage that is less than $10 a month.
Moreso, Maduro said that the government will be sharing 500,000 worth around $30 million petro cryptocurrency to both town and local government as a support token. This is aside the Detroit airdrop coming up tomorrow.
The country has been pushing for petro cryptocurrency adoption in the country since 2018 after its launch. The Bank of Venezuela (BoV) makes the cryptocurrency to citizens.
This is a huge adoption towards the use of petro crypto as the official central bank digital currency (cbdc) of Venezuela.