A node on the BolivarCoin blockchain is operated by the central bank of Venezuela

By Dorothy 01/5/20 1:45 PM

This is the first time a central bank has been found hosting a node for a public blockchain. Banco Central de Venezuela (BCV), which appears to be operating a node on the BolivarCoin blockchain, makes speculation that BCV is likely to enhance its interest in digital currencies.

A Twitter user and BolivarCoin community member known simply as ‘Samael’ did some basic research on his own. To get started, he searched the node’s IP address (200,35,132,80) on ip-tracker.org, where he discovered that both the organization and the AP number associated with the node were registered to the Banco Central de Venezuela.

si revisamos la blockchain cuidadosamente de @BolivarCoin_XT puede encontrar la ip 200.35.132.80 esa

— Samael ?⚡️????? (@SamaelDNM) January 1, 2020

To determine whether this is an individual representing himself as the central bank of Venezuela, Samael used ipinfo.io to identify other IP addresses used by the SR, where he searched. see a total of 768 results – including 200,35,132,80.

Al abrir el listado de IP
200.35.132 encontramos que hay 24 destinada, de las cuales la IP 200.35.132.80 está justamente ejecutando un nodo de Bolivarcoin https://t.co/duVVtKdugw pic.twitter.com/ezvEOeHlRF

— Samael ?⚡️????? (@SamaelDNM) January 1, 2020

This node was first noticed by members of the Telivram BolivarCoin community, who discovered that a node operating under this IP address seemed to be associated with Venezuela’s central bank.

At first glance, many BolivarCoin supporters have no doubt about this discovery, because it’s no wonder that such a “discovery” turned out to be fabricated in some way.

It is safe to say that this button is actually operated by the central bank of Venezuela, but does not disclose whether this is necessarily a benefit to BolivarCoin. To this end, BolivarCoin’s official Twitter simply stated that the situation was neither good nor bad, adding that the BCV contributed simply by adding a node to its network.

Currently, the central bank of Venezuela has not announced this issue, nor is there any indication that they are working on their own blockchain.

Despite the news that BCV is currently hosting the BolivarCoin node, BolivarCoin is still one of the smallest cryptocurrencies in circulation, with a market capitalization below $ 76,000. Likewise, it still has almost no trading volume, with a BOLI trading index worth $ 26.51 over the past 24 hours. Such small volumes mean as BOLI is not listed on any major exchange platform.

Given this problem, it is unlikely that Venezuela’s central bank is seeking to support BolivarCoin as a project, but instead simply familiarize yourself with blockchain maintenance and operation as part of its effort to start holding cryptocurrencies like Bitcoin and Ethereum.

Venezuela reportedly wants its central bank to hold bitcoin

Venezuela can not only use its own cryptocurrency to avoid the consequences of international sanctions. Bloomberg tipsters said the country’s central bank is testing the ability to hold cryptocurrencies to help state-controlled oil and gas company Petroleos de Venezuela SA. The company was reported to have bitcoins and ethereum, and moving that money to the central bank could allow them to pay suppliers and avoid “potential blocks” from conventional channels that will come with direct or regular cryptocurrency payments.

The bank is also considering proposals to calculate cryptocurrencies for international reserves that have plummeted in recent years.