Dash Launches Dash Text Crypto Payment Service in Venezuela
Dash has announced the launch of Dash Text. Dash Text is an SMS-based cryptocurrency transaction service for Venezuelan users. In an announcement, the company said that Dash Text eliminates the need for Venezuelan users to possess smartphones and internet access to carry out crypto transactions, which has been a barrier to adoption in the impoverished country suffering from hyperinflation.
Pushed by many months of hyperinflation which have rendered the country practically worthless, Venezuelans have increasingly turned to cryptocurrencies as a rescue point.
Dash is hoping to expand on the achievement it has recorded in capitalizing on the pattern by focusing on a large number of Venezuelans who are not ready to share in the crypto economy since they don’t possess cell phones or they can’t get to the web. The answer for this issue was worked in association with BlockCypher, which spends significant time in blockchain arrangements and blockchain freethinker items that empower clients to draw in with different digital forms of money through one stage.
Currently in beta testing, Dash Text will enable users of Movistar and Digitel — Venezuela’s largest telecom providers — to access Dash services via a simple five-digit shortcode.
Bradley Zastrow, Global Head of Business Development at Dash Core, speaking about the unique demand that gave rise to Dash Text said:
“Venezuelans living abroad send an estimated $2 billion USD back home in remittances. This process often takes too long and costs too much, making it a huge pain point for many users. With Dash Text, we are providing real solutions that address real problems. People need easy and cheap ways to send money home, and we’ve done it in a way that expands the Dash ecosystem to those without smartphones! Dash Text offers the perfect solution to ensure that everyone can become part of the Dash family, regardless of what phone people own.”