Posted on

Dash Thai Team Keeps Promoting Dash, Increasing Its Adoption

Dash Embassy Thailand comes second after the US on the number of Dash operations
conducted via the upgraded AnyPay service

Data from the AnyPay POS platform for online payments demonstrates that in March this year there has been a total of almost a hundred Dash payments in Thailand. That was 0.15 Dash per baht on average with around $10-15 in March overall.

Dash gets widely used in the region

Recently, the local Dash team has arranged for
several merchants to start accepting the coin. Therefore, now locals and
tourists can buy everyday goods and food with Dash.

Sascha Jochum, a member of Dash Embassy Thailand, believes these 100 transactions are an achievement – it means that Dash adoption is growing.

The payment transactions were made and verified through the Dash Wallet and different POS systems, including AnyPay. Sascha reckons that the actual number of verified transactions on non-Dash apps is much bigger, but they have not been calculated yet.

Crypto-friendly environment

Thailand has been more or less friendly
towards blockchain and digital assets, allowing the Dash Embassy Thailand staff
to promote the coin in the country and do their best for its wider daily adoption.

The local government permits companies to work in the crypto sphere here, like set up exchanges or even conduct ICOs. That all requires a license, of course. Besides, merchants are allowed to sell goods for crypto.

Offering Dash to tourists

The Dash team here are doing their best to spread the actual use of the coin. They try to find creative ways for ‘converting’ people into crypto. So they are working with the local travel industry and exposing Dash to tourists that come here from around the world.

This is being done in the hope that the tourists will then take Dash back to their native countries and will keep using it after their experience with crypto in Thailand.

The local Dash team are not only trying to expand the local use of Dash but are also busy raising the awareness of it among the locals. The majority of people here, both consumers and entrepreneurs, are poorly informed about Dash and crypto in general. This also helps the team find potential Dash developers and new members for the Dash community.

The post Dash Thai Team Keeps Promoting Dash, Increasing Its Adoption appeared first on Ethereum World News.

Posted on

Hyper Inflation in Venezuela Makes for Interesting Times in Cryptocurrency

Cryptocurrency–While the ongoing inflation and forced impoverization of the Venezuelan population is bordering on a crisis, the scenario surrounding government fiscal policy, imposed fiat usage and the role of cryptocurrency is creating an interesting incubation for the industry.

It started with the growth of adoption for Bitcoin in the beleaguered country, with citizens looking for an alternative to escape the six hundred thousand percentage increase for inflation (on pace to hit one million by the end of the year). Bitcoin, which has long been pointed to as an excellent digital store of value analogous to physical gold, allowed Venezuelans the opportunity to use a global currency with far less price volatility than the now-worthless Bolivar. While most of the Western world, particularly older generations polled in investment surveys, complain about the erratic fluctuating price of BTC–a feature that has been heaped upon by Nobel Prize winning economists–Venezuelans flock to the currency in an effort to avoid the crippling inflation of their fiat currency, providing strong support for the validity of the digital asset.

However, that same adoptive population is also realizing the limitations of Bitcoin, a set of difficulties that were exposed in January during the peak of BTC pricing. While mining fees have come down substantially from their average of $55 per transaction earlier in the year, Venezuelans are turning to a currency that offers more utility. DASH has seen an explosion in both price appreciation and adoption throughout this past week, as cryptocurrency moves towards being the go-to choice for the crypto-using portion of Venezuela that desperately needs a transaction-focused tender separate from government fiat.

As previously reported by EWN, DASH is seeing upwards of two hundred new merchant adoptions per month in the country, with the commerce-minded population benefiting from the greatly reduced transaction times of the coin over competitors like Bitcoin and Ethereum. While Bitcoin continues to hold the lion’s share of the market and nearly all of the brand-recognition of cryptocurrency, DASH, NANO and other transaction-focused currencies are quietly making a name for themselves in their ability to offer a fast, cheap (or fee-less) alternative to traditional money.

Given the abuse of government fiscal policy, rampant inflation and bureaucratic control over money that has devastated countries throughout history, it seems unlikely that Venezuela will be the last situation to gain international attention over a crippled monetary system. The average investor in cryptocurrency might be in for the potential of profit, but most developers and industry enthusiasts recognize the underlying power is not just in the technology of blockchain, anonymity and security, but the decentralized framework that is put into practice when large populations shift from government fiat. Venezuela is a real-time incubator playing out for how cryptocurrency can respond to a situation of ineffective fiat or traditional tender as the primary source of money. While the market has responded in a predictable manner, i.e. favoring currencies that offer the fastest and cheapest transactions, it also gives credence to the intrinsic value of the currencies that has regularly been lambasted by economists and other academic circles. Bitcoin may not be backed by a physical property, but it still holds value to the Venezuelan family harboring their earnings in BTC and paying for their groceries as opposed to using the worthless Bolivar.

It remains to be seen how cryptocurrency can use situations like the one currently playing out in Venezuela to ultimately benefit the population and the growing industry. At the very least, it has provided an alternative discussion from the endless conversation surrounding Exchange-Traded Funds and price predictions.

Girl in a jacket

loading…