Dash’s Plan To Create A Foundation-First Cryptocurrency Ecosystem - Dash News. Thursday, September 27
Dash Head Of Development, Talks About Dash’s Plan To Create A Foundation-First Cryptocurrency Ecosystem
On September 26, global head of development for Dash, Bradley Zastrow, published an article on Nasdaq. In the article, Zastrow talked about Dash taking a different approach towards its plans for mass adoption. He talked about how simply creating cryptocurrencies, regardless of their immense benefits against fiat, wasn’t enough for people to adopt them.
Fundamentally, cryptocurrencies are created to fill a void left by fiat:
“One of the most commonly cited use cases for cryptocurrency today is as an alternative form of payment — payments that are faster, cheaper and more secure than what the legacy banking system provides.”
According to Bradley, this need is far more common in developing countries. Economic factors such as hyperinflation lead to a lack of demand for national currencies as is the case with Turkey, Argentina, and Venezuela currently. Such a situation is ideal for cryptocurrencies to flourish. However, is it just enough that they exist? Bradley says no, there is a need for social awareness before cryptocurrencies can be adopted.
Internet access comes out as one of the most fundamental conditions that have to be satisfied before cryptocurrencies are adopted. It is known that internet access in developing countries is majorly through mobile phones. So, how is Dash utilizing this?
Bradley talks about Dash’s recent partnership with Kriptomobile. Dash made this announcement back in August. Kriptomobile would be selling Android devices to Latin America and particularly in Venezuela which would be preloaded with Dash paper wallet. the phones would go for $100 making them affordable. This initiative was aimed at giving the large unbanked population in Venezuela financial freedom. Given the prospect of an increased user base for the coin, Dash soared by 35% then.
This is not all that Dash is doing in Latin America. The project is heavily invested in other countries like Colombia. On September 25, George Donnelly, Coordinator of Dash Colombia, announced that at least 100 merchants had signed up for Dash in the last 3 months.
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