Le Lézard
Classified in: Oil industry, Science and technology, Business
Subject: PDT

President Maduro and His "New" Oil-backed Cryptocurrency "Petro" Copies the UK Based R FINTECH Product BILUR

LONDON, December 7, 2017 /PRNewswire/ --

On Sunday, Venezuela launched a "new" cryptocurrency called "petro" that is backed by oil, gas, gold, and diamond reserves.

Venezuelan President Nicolas Maduro said in a celebratory tone that "the 21st century has arrived!" He added that the new cryptocurrency would help the country "advance in issues of monetary sovereignty, to make financial transactions and overcome the financial blockade."

This is not the first time a cryptocurrency has been backed by the oil industry. In fact, this is a clear copy of the London-based R Fintech product called Bilur, launched earlier this year. One unit of the new e-Commodity is equivalent to 6.5 barrels of Brent crude oil. At today's Brent price of $64.15, one Bilur is worth $418.12. Shortly after the launch, it was worth about $356. There are plenty of success cases where people invested in one unit of Bilur in May and now can made a return of 17.5% in seven months.

Recently, R Fintech has made an important update on Bilur trading platform http://www.bilurmarket.com. The new improvements allow to invest and return benefits to other cryptocurrencies like Bitcoin, Ethereum, and ATM.

These press releases may also interest you

at 15:03
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Osisko Metals Incorporated ("Osisko Metals") and Pine Point Mining Limited ("Pine Point") are pleased to announce the successful completion of...

at 15:00
The Honourable Mélanie Joly, Minister of Canadian Heritage, has approved a contribution of $200,000 to the Heritage Emergency Fund of the United Nations Educational, Scientific and Cultural Organization (UNESCO). This announcement reaffirms Canada's...

at 14:58
Zions Bancorporation announced today that it will sponsor its 2018 Biennial Investor Conference for institutional investors and analysts on Thursday, March 1, 2018, in Salt Lake City, Utah. A webcast of the event will be available on that date...

at 14:57
Super Micro Computer, Inc. , a global leader in enterprise computing, storage, networking solutions and green computing technology, today announced that it has expanded its Silicon Valley Headquarters to over two million square feet of facilities...

at 14:55
Markel Corporation announced today that Beth Hungate-Noland will join the company as a Managing Director. Hungate-Noland, who has been a Partner at Williams Mullen for the past 15 years, will join the team at Markel that is responsible for the...

at 14:55
Steward Partners Global Advisory, LLC, an employee-owned, full-service independent partnership associated with Raymond James Financial Services, Inc. (member FINRA/SIPC), announced today that Alan Raffer, Director, Sherry Birnbaum CFP®, Senior Vice...

News published on 7 december 2017 at 18:13 and distributed by: