First International Meeting of Cryptoactives

Fritz Wagner
Bitdharma Newsletter
3 min readNov 23, 2018

On November 17, the Venezuelan government, through the Sunacrip (National Superintendence of Cryptoactives and Related Activities) organized the “First International Meeting of Cryptoactives”, the event was held in one of the areas of the Hotel Gran Meliá Caracas, Venezuela.

The Meliá spaces witnessed the participation of companies, as well as the presentation of influential national and international personalities from the world of cryptocurrencies and Blockchain technology. It is not surprising that the Petro has been one of the pillars, since the national government of Venezuela is using this new tool to decentralize the country’s dependence on international currencies with the dollar and the euro, and considers that with this cryptocurrency can begin to weave a path of solutions for the Venezuelan economy.

Among the highlights of the event include:

1- A huge stand belonging to a dealer of Canaan miners that received the public, staff representing the organization discussed their plans to settle in Venezuela and showed their equipment for sale.

2- A “Petro Store” where you could buy any advertising material from Petro. Initially, you could only buy with cryptocurrencies such as Bitcoin, Litecoin and Dash. Already advanced the event began to accept Petro as a form of payment.

3- The Sunacrip also enabled a space where they allowed attendees to buy Petro with foreign currencies, such as dollars or euros (after registering them on their web portal). It should be noted that so far, the only ways to access the Petro is through Bitcoin or Litecoin (from its web portal), which houses the only wallet disseminated so far. Another option is in sovereign bolivars, currencies or cryptocurrencies directly at the Sunacrip offices in Caracas. The price of it continues to vary, according to the entity where you consult its price.

4- The lawyer Alejandro Gómez de la Cruz who is represented as a representative of the mining manufacturer Cannan, from a videoconference highlighted the issue of ICO and its specific use to raise funds as an alternative to traditional crowdfunding. Regarding the smart contracts he said that these will eliminate the current nature of many financial transactions, including the needs of “Escrow”. He explained that just as happened with the beginnings of the Internet, many would think that the creation of YouTube would be crazy, since there is no bandwidth capacity, in the same way is the Blockchain in our days, in its initial stage and the Scalability problems that exist will be resolved over time.

5- Dmitri Kosten President of 3D Business Solutions stated that the current financial system will cease to exist because an essential part of its procedure includes bankruptcies from time to time, failing to mention how digital platforms such as Uber, Facebook, Airbnb, Alibaba now accumulate value without having physical assets. Its value lies in the platform that handles information and presents a more efficient business model.

However, beyond all these are completely coherent edges expressed by specialists on cryptocurrencies and Blockchain technology, the event had a focus on that sense of Petro as an alternative solution to the current Venezuelan crisis, as evidenced by the president of the National Superintendency of Cryptoactives (Sunacrip), Joselit Ramírez commenting during his speech at the event: “This project is the alternative window to global financial hegemony that is not only a solution for the country and we have already corroborated it, it is also a solution for the countries that have been affected by these actions”, “The world has its eyes in Venezuela because we are living an era of transformation, a time of transformation for the world, in which we see an imminent future with the cryptoactive “.

By Marcelo Durán / Bitdharma

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