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Venezualans Pay for Passport Charges with only State Backed Digital Money, The Petro

October 09, 2018 12:37
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As indicated by the recent declaration made by the Vice-President of Venezuela, Delcy Rodriguez, Venezuelans have to pay for passport issuance charges with only state-backed digital money, the Petro.

The passport will cost locals of Venezuela in two Petro for the new passport, which today can be purchased for 7,200 bolivars sovereign. This is both a great deal and a bit. Two Petro is just $ 200, and in the meantime, it is four minimum monthly salaries.

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For Venezuelans who are in the foreign country, until November 1, the expense of new passport will be $ 200, and the renewal of the record will cost $ 100.

The new payment strategy was a piece of a joint declaration, which additionally uncovered that the nation has set up migration police.

Numerous Venezuelans are doing their utmost try to leave the nation, as they trust that they can lead a superior life under an alternative government and economy. According to the report by the United Nations, the number of applications for getting passports has increased significantly and approx. 5,000 individuals leave the nation daily.

Huge numbers of these people regularly exit through Venezuela’s physical borders illegally, mostly to different parts of South America. However, to control this, the government has made the so-called “migration police force” which will set up to the 72 ports of entry over the South American nation.

But, even on the lawful side of things, some people are yet thinking that it’s hard to leave the nation of their root, not just because of the crazy international ID or passport charges. The SCMP clarified that significant Airlines like Avianca, United Airlines, and Lufthansa, had stopped support of the nation which makes it troublesome for even local people who have enough money to purchase a new passport to leave the nation.

The Petro is to be launched in November, and Maduro stated that the official site has just been propelled. The official wallet is as of now accessible in Google Play. However, the public sale won’t begin until November fifth. The digital currency will likewise, in the long run, be tradeable on some big and well-known exchanges such as Binance and OKEx.

Jerry Brito, executive director of the Coin Center – an organization that studies the state’s influence on the development of the crypto market, said Venezuela’s attempt to issue cryptocurrency is a new way to bypass US sanctions. But, the release of cryptocurrency will not help Venezuela to avoid sanctions.”

Manisha Agrawal is a cryptocurrency and blockchain news writer. She is a Blockchain enthusiast and having a deep interest in it. Other than this, she has written various blogs on travel, business, technology, food, and many more.

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