Venezuela Releases Android App For Old Bolivar-Petro-Backed Coin Conversion

News
Mon, 08/27/2018 - 13:45
Yuri Molchan
The new app bears the name “Calculadora Soberana” (Sovereign Calculator) and it helps to exchange the old fiat Bolivar into the new Sovereign Bolivar money
Cover image via U.Today

The new app bears the name “Calculadora Soberana” (Sovereign Calculator) and it helps to exchange the old fiat Bolivar into the new Sovereign Bolivar, backed by the Petro crypto coin.

The conversion happens at the rate one to 100,000.

Currently, the app has had over 10,000 downloads and is rated 4.7 on Google Play. The number of views barely reaches 200.

Earlier in August, Venezuelan president Nicolas Maduro conducted a devaluation of Bolivar by 95 percent. He also linked the newly-issued Sovereign Bolivar to Petro, the crypto coin, backed with the local oil reserves.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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