Central Bank of Venezuela has released an application to convert to Sovereign Bolivar

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Central Bank of Venezuela has released an application to convert to Sovereign Bolivar

Hyperinflation — this is serious. The best way to combat this phenomenon — the transition to a natural economy. But in Venezuela, decided to fight hyperinflation is different. There bound national Fiat national cryptocurrency. Everyone was waiting for, the Central Bank of issue application, through which you can make transactions with the digital asset, but the main financial regulator in the country is not in a hurry: so far it only lasted for an application that allows you to transfer the amount in the old bolivars in the amount of new denominated.

Application from the Central Bank of Venezuela confirmed that the country is bad. In order to calculate the value of the new piatogo Bolivar, simply remove five zeros. This task can handle any student without any application. But the regulator has just released Calculadora Soberana — absolutely useless program for android devices. However, the buzz around this release enough.

President Maduro, tied denominated Bolivar national cryptocurrency that day, Petro will cost $60, and it can be to buy Sovereign for $ 3,600 bolivars. And here’s to no one’s confused, recounting old bolivars to new Central Bank and created a special “Sovereign Calculator”.

Recall that many participants of stock market consider that the Venezuelan cryptocurrency is a fake. Despite the fact that Petro has become the second legal tender, the country’s inhabitants prefer to use bitcoin and dash. “We have not seen any in circulation Petro or smart contracts or specifications of a token, nor even its blockchain,” said Jorge Farias, the Venezuelan head of a startup Cryptobuyer.

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