This "ICO" still have
several issues which need to be clarified by the government:
- The price of oil is volatile considering the complexity of the industry.
- Oil is a depletable asset, and one cannot practically exchange Petro units for barrels of oil.
- The Venezuelan opposition has labeled it as a scheme to enhance corruption since it is not regulated.
- U.S. and EU have raised concerns regarding sanctions placed on Venezuela.
A lot of issues you noticed. I will never invest in such suspicious asset. I prefer trusted and well-capitalized coins. But maybe sometimes we can take a risk.