Venezuela Petro cryptocurrency: Lldemaro Villarroel, the Venezuelan Minister of Habitat and Housing, just announced that the Venezuelan government is planning on using the national cryptocurrency Petro to house the homeless, Criptotendencia reported yesterday.

The project will be called ‘Great Mission for Venezuela Housing‘ (GMVV) and the Venezuelan government will be fully funding it. GMVV aims to provide quality housing to the homeless.

Great Mission for Venezuela Housing

According to the GMVV website, the government has built more than 2 million houses to date. Villaroel states that 33 companies have teamed togETHer to start tests on the construction process.

Villarroel told the press:

“TogETHer with the governors, we are reviewing the plans that we will begin in the second quarter, in this second quarter GMVV will have an injection of financial resources, which this year will be protected and established with [the] Petro.”

The president of Venezuela, Nicola Maduro, approved the use of 75 billion bolivars (USD $750,000) and 909 Petros to build the new housing units. Maduro adds that the oil-backed cryptocurrency offers many benefits that represent a protective shield for the housing construction.