Venezuela plans to integrate cryptocurrency as a state payment method, said Venezuelan President Nicolas Maduro. The state considered the option of creating their own cryptocurrency “El Petro”, but the ATB Coin creators suggested that the authorities consider the option of introducing the ATB Coin cryptocurrency as a coin used at the state level.
“This option has numerous advantages,” the company said in a statement.
“Firstly, the blockchain paradigm can be the best choice at the governmental level and eliminate the deficit in the financial sector of the country, making ATB Coin an alternative currency; secondly, ATB Coin can be an excellent solution for the Venezuelan economy, since it is transparent and works without intermediaries; Thirdly, ATB Coin is one of the fastest and safest cryptocurrencies, and finally ATB Coin is an excellent new source for the country’s economic recovery, since public debt denominated in US dollars or euros can be returned in a cryptocurrency that is not subject to inflation”.
The latter is particularly relevant, since at the moment the Venezuelan economy is in stagnation and suffers from a high level of inflation. At the same time, the ATB Coin project has significant experience in working with the real sector of the economy and creating solutions for small and medium-sized businesses.
In the near future, the ATB Coin project will get even more widespread around the world – the company approved the marketing budget for the first quarter in the amount of $ 2.5 million. This amount will be spent on comprehensive coin promotion, offline activities, development of partner network, co-branding activities with partners, development and promotion of the site, sponsorship of events and participation in conferences.
All this news has already led to an increase in the coin price by more than 100% in 1 day.
The main advantage of ATB Coin is the high speed of transactions, security, ecological POS mining, offline codes for payments under the “guaranteed check” principle, etc.