![](https://steemitimages.com/DQmPztvQ1k5S8vmqVhV4fU1rqARt8LTpuXT65cpWK7Ejeib/image.png)
The Bolivarian Republic of Venezuela takes a familiar route towards its cryptocurrency journey using the Ethereum platform to launch its Initial Coin Offering (ICO) that goes by the ticker name PTR. The government also gave its intention to migrate the project unto the Decred platform which would be manage by the Venezuelan state. 

One of the areas of concerns is the governance of the blockchain and according to CryptoNoticias Decred platforms gives them enough room as it entails both as Proof of Work and Proof of Stake.
![Screenshot (779).png](https://steemitimages.com/DQmdprQ58XsxCK4grwzbUK7j8bq5TJjbT4yyDVMYGKWTdzZ/Screenshot%20(779).png)

The Venezuelan government is also learning from some of the problems currently facing varying cryptocurrency projects and adopted this model to address those issues as outline
![Screenshot (781).png](https://steemitimages.com/DQmeDxAtz1hw7EZNBR9GpsFF4W6RRbm2UqQVAkY33ndoWuP/Screenshot%20(781).png)

Most of this work is currently taking place and the government has given its intention to have the project off the ground by April of this year. 

_Source_
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https://www.criptonoticias.com/adopcion/venezuela-elige-ethereum-ico-petro-decred-crear-red-blockchain-propia/