Supporters of DASH, the privacy-centric cryptocurrency, hope to highlight what they believe are its strengths at the upcoming North American Bitcoin Conference in Miami. They are doing so in an intriguing way: by setting up a soda vending machine that accepts DASH for payment at the Conference. Dubbed “Dash N’ Drink,” the vending machine is intended to promote Dash’s “InstantX” technology, which can secure a transaction without the need to wait for a block confirmation.
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“Dash N’ Drink” is the brainchild of Dustin Eward and Jeremy Maus, two long-time DASH users. Bitcoin.com reached out to Eward and Maus to discuss their project.
Origins of Dash N’ Drink
Bitcoin.com (BC): What initiated the Dash N’ Drink Soda Machine project?
Eward/Maus (E/M): A conversation on Dashtalk.org started between us with the goal of creating a point-of-sale project to highlight InstantX technology. What we needed was a closed development platform that wouldn’t interfere with the Point-of-Sale systems of existing businesses. A soda machine was chosen as a proof of concept and stepping stone for bigger ideas.
BC: How was the Dash N’ Drink funded?
E/M: The Dash N’ Drink has been funded so far by Dash’s built-in self-governance system. A proposal was submitted to the DASH budget system for voting. Within a week, it received enough votes and was successfully funded directly from the blockchain.
BC: How is the Dash N’ Drink different from any other Crypto-based point of sale machine?
E/M: The Dash N’ Drink does not rely on 0-confirmations or accepting a payment before it is secured in the blockchain. It also does not wait for a block confirmation which could take several minutes. The machine uses Dash’s InstantX technology which secures a transaction without the need to wait for a block confirmation.
Also, the fee to purchase from the Dash N’ Drink machine is one of the lowest for any crypto, at only 3 cents per InstantX transaction. After the upcoming Dash Evolution release, this fee will be omitted for most transactions.
BC: How does InstantX work?
E/M: InstantX uses Dash’s second-tier masternode network to lock a transaction. This network-wide locking prevents double spend attempts and cannot be reversed, similar to inclusion in the blockchain. This has been tested to take less than a second with our soda machine. This technology will provide merchants a clear advantage to other payment methods without relying on a 3rd party processor for transactions.
BC: How do you plan to demo it at the Miami conference?
E/M: We plan to demonstrate how the InstantX Soda Machine can facilitate real-time cryptocurrency transactions securely. We designed the machine to accept Dash InstantX transactions by mobile phones via scanning a QR code. At the show, we will be offering paper wallets preloaded with Dash. We have designed a custom Android mobile app for the show that can quickly import funds from a paper wallet and allow immediate spending using InstantX. The user scans the QR code with that mobile app and then purchases a beverage in less than a second. We are also planning to demonstrate a remote InstantX purchase from a user at an outside location.
BC: What is the plan for the Dash N’ Drink and the team after the Miami conference?
E/M: Mainly the machine will be used as a retail traffic billboard. We are in a unique position to not be affiliated with a particular supplier, which enables us to place the machine in many strategic places. Our future plans will include open sourcing the Dash N’ Drink InstantX code and other ambitious projects for point of sale technology tailored for retail merchants.
BC: How can people interested in the Dash N’ Drink find more information?
E/M: The Dash N’ Drink website is at www.dashndrink.com. The Dash website is at www.dash.org.
What do you think? Is the Dash N’ Drink a viable point-of-sale machine? Does InstantX solve the problem of 0-confirmations? Let us know in the comments below!
Images courtesy of TheDashGuy, pixabay, and dash.org.