The MUD demanded the government set a date that provided ample time to appoint new electoral authorities and invite global observers, but as talks broke down the ruling socialists did exactly the opposite: Election Day was accelerated under current conditions.
Vice President of the Republic, Tareck El Aissami, tweeted on the 20th of February: "The Petro goes out to the presale". A senior member of the New Era Party announced on Twitter that his organization would sit out the election, while the Popular Will party, led by jailed-activist Leopoldo Lopez, said last week that it would not "nominate or endorse any candidate".
President Nicolas Maduro is optimistic that "Petro" will enable the country to ward off difficulties arising from the financial sanctions slapped by Washington.
The story of Petro began in the early December of 2017.
"(It) is another attempt to prop up the Maduro regime, while further looting the resources of the Venezuelan people."
Meanwhile, Minister of Communication and Information, Jorge Rodríguez, noted that "This is an effort of young Venezuelan filmmakers to include those who for decades were excluded, to send a message to Venezuela and the world of inclusion, hope, peace and of permanent dialogue". However, it's not clear that a blockchain would make Venezuela's government more reputable.
But the U.S. Treasury Department has thrown a damper on the release, warning U.S. citizens and companies who buy the petro that they could be violating sanctions. The pre-sale will end once the 82,400,000 units of the pre-sale are sold. The token is well supplied with side materials like multilanguage buyer's manual and anti-money laundering compliance manual. The president predicts the petro will be a roaring success.
"Venezuela has been known for misappropriation of assets in the past and the central bank has just created hyperinflation so I imagine there'll be trust and transparency issues", he said in an email.
Petro may still help the economy of Venezuela.
Commodity backed coins have hit the market, but many fail to really take of the ground, or are shut down completely.
Trump "campaigned promoting non-interference in other countries' domestic affairs", Maduro tweeted, tagging the USA president's account.