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The Venezuelan crypto asset Petro and its assessment as cryptocurrency and financial instrument

Author

Listed:
  • José del Carmen Hernández Jaimes

    (MSc. En Ciencias de la Educación por la Universidad Valle del Momboy. Subsistema de Educación Media General, MPPPE. Mérida, Venezuela. Teléfono: (58) 04147400270.)

Abstract

The objective of the present study was to analyze the functionality, validity and impact of the crypto asset Petro in the current Venezuelan context and its projection in the financial world, in order to assess if this Venezuelan crypto asset in fact represents a commercial instrument. The type of research was documentary, explanatory, given that a systematic, thorough and profound review of the existing documentary sources (printed or digital) was carried out, particularly of the press releases, opinions and analysis published by experts on the subject. The study arrived to the conclusion that the Petro does not represent a strong digital asset in the fulfillment of raising capital as negotiable instruments, let alone as a commercial exchange tool due to its technical, financial and legal reality.

Suggested Citation

  • José del Carmen Hernández Jaimes, 2019. "The Venezuelan crypto asset Petro and its assessment as cryptocurrency and financial instrument," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 44(48), pages 173-214, july-dece.
    • Handle: RePEc:ula:econom:v:44:y:2019:i:48:p:july-december
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    More about this item

    Keywords

    crypto asset; Petro; negotiable instrument; technology;
    All these keywords.

    JEL classification:

    • E49 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Other
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • H69 - Public Economics - - National Budget, Deficit, and Debt - - - Other
    • K29 - Law and Economics - - Regulation and Business Law - - - Other

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