To Open Crypto-based Casino
Nicolas Maduro, president of Venezuela, has opened the way for casinos to be operated in the country. The country will see its first casino in a decade, this time in the form of a crypto-run casino.
For ages, betting halls, and casinos have been extinct. But the president is hoping to use blockchain and cryptocurrency as a defibrillator to revive the moribund economy of the country.
Maduro has earmarked Ávila National Park’s Hotel Humbolt as the home to the crypto-run casino. The international casino will operate with the country’s cryptocurrency, Petro (PTR). The proceeds from the casino will help fund the country’s education and health sectors.
This news will come as a delight to Venezuelans who have wanted to test their wits with the online gambling but couldn’t do so due to former president Hugo Chavez decree to close all betting places.
What To Make Of This Announcement
The casino doesn’t have a registered name yet, and there is no established date on when it will open. But Maduro insists those are finer details that can be finalized in a matter of days.
There are still other details to be ironed out, and people are starting to ask questions. Would guests be required to use the Petroapp? How would winners collect their winnings? Will the casino have subsidiaries or would it only be at the heart of the country? These are many questions currently on people’s mind.
Perhaps people should consider the benefits of the casino rather than the casino itself. Public health structure and education are two areas that the country greatly lacks. The crypto casino funds will help support these dire areas.
However, given the fact that the Venezuelan government has a history of not keeping to their promises, Venezuelans should exercise caution in relation to this news.
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