Venezuela plan to airdrop the state cryptocurrency to people that register for their wallet

The President of Venezuela Nicolas Maduro has announced an airdrop of 0.5 Petros for every Venezuelan citizen who registers for the government’s PetroApp, according to local sources.

The oil-backed cryptocurrency will be airdropped as the launch has not been the success the government had hoped. The PetroApp was made to let Venezuelans pay for goods and services using the state created a cryptocurrency with their phones. It also allows them to send and receive crypto. Which means It does more than a regular wallet. The app currently supports Bitcoin, Litecoin, and Dash.

This move is hoped to make the citizens of Venezuela take on the digital currency ahead of the Bolivar which sunk in value. The country has been going through massive political problems after Maduro not recognized as the true leader of the nation by the international community including America. Sanctions have been placed on the county and inflation has soared.

Now the country are trying to use Petros to get round some of the sanctions and make transactions in oil-related products and there have only been 400 companies that accepted payments in Petros last month.