The tokens will each be valued at and backed by a barrel of Venezuelan crude oil, Maduro has said.
Venezuela is in the grip of a long-running political and economic crisis. Leidenz further added that "You can not stop hyperinflation by creating a new currency and doing nothing else".
Venezuelan government officials say they are the first in the world to issue a virtual currency.
Alpine skiing: What to look out for in the women's combined
The best men's slalom skier, Marcel Hirscher, won the men's Olympic combined title at the Pyeongchang Games. Though not naturally introspective, Vonn seemed eager to use the occasion to reflect on her career.
Maduro has repeatedly said that his country is the victim of an "economic war" - prompted by financial sanctions imposed by the United States - and that the sale of the new digital currency will help the country circumvent this problem. The petro does not give investors any ownership stake in Venezuelan oil. PSUV, the ruling party of the Maduro regime, is asking the Constituent Assembly to hold that legislative elections be held April 22nd, with the aim of reducing the tenure of the opposition held National Assembly, a coup d grace after the government spent 2016 gutting the National Assembly of all real power through Supreme Court decisions and in 2017 appointed a supra constitutional Constituent Assembly in what the opposition called rigged elections.
The powerful Cabello told state television VTV he would make a formal proposal to the Constituent Assembly, which President Nicolas Maduro has used to sideline the opposition and strengthen his grip on power.
To fuel demand for the Petro, it will be accepted as payment for local taxes. The U.S. Treasury Department warned in January that investors who buy the cryptocurrency "may be exposed to U.S. sanctions risk". Analysts also think that the Petro won't bring real benefits either to Venezuela's ravaged economy or its people who suffer from shortage of basic necessities amid a hyperinflation expected at 13,000 percent this year by the International Monetary Fund.
School girls not abducted in Dapchi by Boko Haram, police claims
She wondered if the Buhari led Federal Government did not learn anything from the incident of the abducted Chibok girls.
It's also unclear how investors will be able to sell the petro.
Maduro announced in early December that Venezuela - which is under sanctions from the U.S., as well as the European Union - was creating the digital currency.
While Venezuelans largely blame the ruling socialist's stewardship of the economy for quadruple-digit inflation and chronic food shortages, Maduro's top rivals are now barred from holding office.
Heavy rainfall impacting your Wednesday — ALERT DAY
In those regions, meteorologists say, the main concerns will be damaging winds and the possibility of a few tornadoes. This watch includes much of Northwest Louisiana, a part of Southwest Arkansas and Panola County in Northeast Texas.
Diosdado Cabello, vice president of Venezuela's ruling Socialist Party, on Tuesday proposed holding an early congressional election alongside the April 22 presidential vote, potentially shortening the tenure of the now opposition-run legislature. Opposition leaders say they can't overcome an electoral authority stacked with Maduro loyalists that ignores state abuses and banned its top candidates from the ballot.