RE: Venezuela's $5b Ethereum Based PETRO ICO Whitepaper Released!

[bellsx1]

The potential pressure points impacting the success or failure of El Petro.

• The Blockchain -
  1. Clone of Ethereum or Adapted Version?
  2. Encryption
     • signed transactions and messages versus encrypted messaging
     • potential backdoors will keep the presale tokens unredeemed
  3. Transaction Rate
     • Venezuela would need to support ~ 350 tps to scale to an activity level of the USA
     • [(100 Bln e-txns per year / seconds per year) / population USA] * population Venazuela

• Commodity Accounting Standards
  • pegged to estimated reserves or known reserves
  • Pre-Established procedures and Due process to modify basket mix backing up el Petro