Nicolás Maduro

From CryptoMarketsWiki
Jump to: navigation, search
Nicolás Maduro
Nicolas-maduro.jpg
Occupation President
Employer Venezuelan Government
Location Caracas, Venezuela
Personal Twitter @NicolasMaduro
Website Nicolás Maduro's website

Nicolás Maduro is the current president of Venezuela. He is also responsible for the creation of the Petro, the national cryptocurrency of Venezuela.[1]

Background

Maduro was born in Caracas on November 23, 1962. During adolescence, he was a member of a band called "Enigma." At a young age, he began working as a truck driver for Metro de Caracas. He would later become a member of the board of directors for this company, as well as a union leader. He is the founder of the Caracas Metro Syndicate (SITRAMECA). He was elected president of Venezuela in 2013.[2]

President

Maduro is considered an unpopular, authoritarian leader, despite winning the popular vote in the 2013 Venezuela elections. Under Maduro, Venezuela saw massive amounts of inflation, poverty, and other severe economic challenges. Millions of people fled the country seeking food, medical treatment, and asylum. In January 2019 Juan Guaidó, president of Venezuela's National Assembly, declared himself interim president. Maduro accused the U.S. and others of overthrowing him and refused to step down. In February, trucks full of food and medicine arrived in the Venezuelan border to provide relief to the country's citizens, but Maduro ordered his military to block access to the country, saying that Venezuela has "never been, nor are we, a country of beggars."[3]

Cryptocurrency

In 2018, Maduro announced that Venezuela was developing a new cryptocurrency to save the country from hyperinflation. Maduro said that the cryptocurrency, called Petro, would be a stablecoin backed by barrels of oil, one of Venezuela's biggest exports. He said this would be valued equally and interchangeable with the "sovereign Bolivar," the other national currency of Venezuela.[4]

References