In the past 12 months, the central bank digital currency (CBDC) industry has continued to gain a lot of progress and adoption. Almost every tech-savvy country aims to work on the technology and come up with its own digital currency.
Venezuela is a country, which also aimed to launch its own central bank digital currency (CBDC). Fortunately, even with the hardships, the country managed to launch its CBDC called the digital petro.
However, the acceptance rate for the country’s digital petro has not received the acceptance rate the country had expected it to have.
Just recently, the creator of the digital petro has made an announcement. He has expressed that he plans to release a new cryptocurrency. He stated that the petro has not received as much adoption and acceptance that was expected of it. Therefore, he wants to create a new cryptocurrency that lives up to the reputation of becoming a new CBDC for Venezuela.
As per him, the cryptocurrency he plans to create and launch would be the best alternative for the digital petro. It would rejuvenate the value and capitalization that the government had expected from digital petro.
According to reports, the creator of the digital petro is Gabriel Jimenez, who is a programmer. He revealed that the name of the new digital asset he aims to create is “Reserve”. He stated that with the help of Reserve, a new revolution would be introduced into the cryptocurrency industry.
Gabriel Jimenez, the programmer behind the launch of digital petro now resides in the USA. He stated that he is very much familiar with the cryptocurrency industry and how the cryptocurrency community works. He also stated the same about the government of Venezuela and its involvement in the cryptocurrency space.
He claimed that although he helped the government of Venezuela with the creation of digital petro, yet he has never supported the Venezuelan government. He is one of the individuals that has protested a lot against the government of Venezuela as well as Maduro.
He protested against the treatment of Maduro’s government over the citizens of the country in terms of currencies and the high inflation rate. Therefore, they had hoped that the citizens of Venezuela would find digital petro to be an excellent replacement in hard times.
This way, the citizens of South Affrica would have found a solution and an alternative to the digital currency system that is powered by the government of India.
He stated that all the effort he put in the creation of digital fiat currency, it failed in many ways other than adoption. Therefore, he plans to tackle the problem with the help of the new CBDC, and this time around, the currency will be a successful