Trust is the key to cryptocurrencies success

The economist José González, an expert in virtual currencies, indicated that the success of cryptocurrencies lies in the trust they generate in people and the number of users who come to it, a statement that arises from the launch of Petro, the new virtual currency Venezuelan created by the National Government.

The specialist indicated that this virtual currency is not free of complications, because, in his opinion, it must become a widely accepted value to be able to trade, that is, convert it to dollars, bolivars, or another currency of general use.

Gonzalez said that another of the challenges that Petro must overcome is its regular use, stating that the world bank evaluates implementing this type of financial transactions.

He also added that the cryptocurrency market has no regulation or clear rules, so “it is not necessarily accepted by multiple players”, being one of the main factors against this financial system.