Nicolas Maduro showcases Trezor wallet on state TV

Posted 08 November, 2019

The President of Venezuela Nicolas Maduro, the crypto-loving president of Venezuela, made an appearance on the state’s TV station, Venezuelan Television Corporation. Maduro said that everyone should participate in the digital economy, stating that there are already 3 million people who have responded to his call to invest their savings in the Venezuelan state cryptocurrency. Maduro met representatives of a company named Trezorvenezuela, who gifted the president with a Trezor hardware wallet. Maduro responded by holding the device up to the camera and expressing his approval.

According to Trezor’s Twitter page, however, those representatives had nothing to do with the company. After being alerted to the video by a user, the company denied affiliation with the Trezor representatives who appeared next to Maduro on the news segment, which was speaking to private companies who have opened up shop in the region.

“We have no official resellers in Venezuela [and] we were not aware about the technological fair.” -  tweeted Trezor.

Online commentators suggested that the company appearing on VTV was apparently an unlicensed reseller of Trezor.

In addition, Nicolas Maduro said that Petro tokens would already be usable anywhere in the country, and around the world, to make payments for purchases, hotels, airline tickets and anything else, using the corresponding wallet for smartphones.

It seems obvious that Maduro is trying to convince Venezuelan citizens to use Petro tokens instead of the hyperinflationary Bolivars, although there are it might be the case that the same fate will sooner or later also affect the new state cryptocurrency. 

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