Crypto project Dash has announced the launch of Dash Text, an SMS-based cryptocurrency-transaction-service for Venezuelan users, as it builds on its already strong presence in the crypto dependent country. In an announcement released this week, 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 historically been a significant barrier to adoption in the impoverished country suffering from hyperinflation.
Driven by several months of hyperinflation which have rendered the bolivar practically worthless, Venezuelans have increasingly turned to cryptocurrencies as a solution, as has been illustrated by a series of well-publicized incidents.
Dash is looking to build on the success it has recorded in cashing in on the trend by targeting millions of Venezuelans who are not able to partake in the crypto economy because they do not own smartphones or they cannot access the internet. The solution to this problem was built in partnership with BlockCypher, which specializes in blockchain solutions and blockchain agnostic products that enable users to engage with multiple cryptocurrencies through one platform.
Reference link – https://www.ccn.com/dash-launches-text-based-crypto-payment-service-in-venezuela/