Venezuelan gov reportedly tracking citizens transactions & personal info through new “fatherland card” tied to Petro

posted 7 months ago
Venezuela is reportedly using its government-issued Petro cryptocurrency to create a system where merchants lose, government officials gain, and citizens are tracked. Venezuela’s identification program, the “fatherland card” was inspired by China. Implications are that merchants are forced to accept the Petro at a fixed rate. (2.5 Million VES/PTR), whereas you can buy the token in the open market for as low as 1 Million VES/PTR.

The orderbooks on exchanges that trade Petro are full in the sell-side and empty in the buy-side. As President Nicolás Maduro battles sanctions, empty shelves and capital flight, citizens are being tracked. Based on accounts from employees of the card system and screenshots of user data, Reuters reports that the fatherland card stores a long list of information on Venezuelans.

-birthdays
-family information
-employment and income
-property owned
-medical history
-state benefits received
-presence on social media
-membership of a political party
-whether a person voted

According to the government, over half of Venezuela’s 31 million citizens carry the card.
Tags: blockchain, news, opinion