The crypto project announced the launch of Dash Text. The SMS-based transaction service for cryptocurrencies is aimed at Venezuelan users.
An alternative to send money cheaply
The alternative builds on an already strong presence in the crypto-based country. An announcement in which the company released this week says the Dash Text eliminates the need for Venezuelan users to own smartphones and Internet access. This is historically a major obstacle to introduction in the poor country suffering from hyperinflation.
Driven by several months of hyperinflation, in which the Bolivar has become virtually worthless, the Venezuelans are increasingly turning to cryptocurrencies as a solution. This shows a number of published incidents.
They intend to build on the success achieved in exploiting the trend. It targets millions of Venezuelans who are unable to join the crypto industry because they do not have smartphones or do not have access to the Internet. The solution to this problem was built in collaboration with BlockCypher, which specializes in blockchain solutions and agnostic blockchain products. They enable users to communicate with multiple crypto currencies via one platform.
In the beta test, Dash Text will allow users of Movistar and Digitel Venezuela’s largest telecommunications providers to access the services of this cryptocurrency through a simple five-digit short code.
Commenting on the unique demand that led to Dash Text, Bradley Zastrow, Global Head of Business Development at Dash Core, said:
“Venezuelans living abroad send an estimated $ 2 billion in remittances home. This process often takes too long and costs too much, which makes it a big problem for many users. With Dash Text, we provide real solutions that solve real problems. People need simple and cheap ways to send money home, and we have done it in a way that extends the ecosystem of this coin to those who do not have smartphones! Dash Text provides the perfect solution to make sure everyone can become part of the family, regardless of which phone they own. “
Receive and send with a SMS Coins
To register for this, users should send an SMS with the word “DASH” to 22625. Then another SMS with the word “CREAR”, which will create their dash wallet. When this is done, users will be able to seamlessly send and receive the coin via SMS. This could be very important for the large population of Venezuela, which has functional telephones or does not have reliable Internet access.
As we know, in August, CCN reported that Dash was in Venezuela as part of its successful adoption process. It has won several leading retailers across the country. A contract has also been signed with Kripto Mobile, a manufacturer of mobile phones with dash wallets. This deal should increase the monthly user growth of the cryptocurrency to 10,000.
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