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Venezuela is one of the countries that wants to use cryptocurrency to redeem itself from economic crises. KFC Venezuela has announced that customers can now pay for services that use Dash's cryptocurrency. Other global companies that accept this cryptocurrency include Papa John & # 39; s and Subway.
Pay for KFC Venezuela services using Dash Cryptocurrency
According to the KFC management team, the company plans to implement the program at its main store in Caracas, the Venezuelan capital, before expanding to other locations across the country. In particular, Alejandro Echeverria, the co-founder of Dash Merchant Venezuela, has worked closely with KFC over the past three months to promote the adoption of cryptocurrency in the country.
Echeverria has recently revealed that more than 2445 traders in this South American country already accept Dash as one of the main forms of payment for their goods and services. This news is clear proof that Dash is gaining traction all over the world and the movement is growing rapidly.
Last month, the company launched a new service, Dash Text, a unique and advanced encryption service based on SMS and does not require connection to the Internet or smartphone. The service was successful in Venezuela due to the fact that 60% of the total population in the country does not have a smartphone or a reliable Internet connection.
Dash Merchant Venezuela is working hard to promote the adoption of cryptocurrency in the country to reverse the effects of inflation. Experts are of the opinion that the rate of inflation in the country may soon reach 1,000,000% if the falling oil production industry is not recovered.
The goal is to have 10,000 merchants next year
Dash aims to get over 10,000 merchants to accept Dash's cryptocurrency from customers in 2019. The rapid and widespread adoption of cryptocurrency has led to a 20% price spike across the globe. Most Venezuelans prefer to use Dash rather than Bitcoin and other digital currencies because of the transaction confirmation and reliability times.
For example, normal Bitcoin transactions take 10 minutes, but during peak periods, it may take up to 1 hour to complete a transaction. On the contrary, all Dash transactions are completed in 2-3 minutes thanks to the superior masternode network which facilitates the instant sending service.
Final comments
The news that Dash's cryptocurrency is going well in Venezuela is a good example of how cryptocurrencies can promote economies and offer numerous opportunities to businesses and corporations.
The government of Venezuela is receptive to cryptocurrencies and is very interested in blockchain technology. Public awareness of cryptocurrency and blockchain technology will further increase adoption rates and help the country free itself from the chains of inflation and instability.
