The Venezuelan ruler, Nicolás Maduro, announced during the presentation of his Report and Account before the new Parliament on Tuesday, January 12, that the opening of accounts in convertible currencies, at all levels, will be allowed so that merchants “can legally open their accounts in dollars ”and process their payment operations, duly supervised by Sudeban.

According to what was announced by the ruling party and Chavez leader, the purpose is to digitize the payment systems against these accounts, but the transactions will be processed in bolivars and “the conversion is made.”

Maduro pointed out that “the dollarization of trade is a beneficial escape valve” and now those mechanisms of resistance and survival must begin to “pay tribute to the State and the people”.

77% of transactions are done digitally

In his statement, Nicolás Maduro said that “the use of foreign exchange to boost the economy has been positive, dollarization has been an escape valve. It is essential to reaffirm the use of the Bolivar and regulate these new processes to make them more efficient ”.

He stressed that the exchange rate flexibility measures do not imply an abandonment of the bolivar, for which he stressed that “this year the use of the petro will be promoted”; through the implementation of payment methods based on the use of blockchain technology.

Regarding the loss of the value of the bolivar, Maduro denounced that “it is due to the financial blockade and the attack on the currency”, adding that “now there is a sustained recovery process, which combines a partial dollarization of trade, with the digital economy. 77% of the country’s commercial transactions are carried out digitally in Venezuela. The rest, 23% is made with dollars in cash on the street ”.

G. Febres

With information from El Sumario, international media and social networks

La entrada Maduro ratified the go-ahead and defended the use of accounts in convertible currencies apareció primero en Bitfinance.