November 9, 2018 12:00 am

How Venezuela’s Collapse Is Spurring Cryptocurrency Adoption

Venezuela’s currency crisis has provided a unique use case for real-world cryptocurrency adoption. Well more than half of the 3,000-plus merchants worldwide who accept dash (DASH) are in Venezuela, and an additional 200 join the network every week, says Bradley Zastrow, global head of business development for the Dash Core Group, which provides services to the network supporting the cryptocurrency.

Last week, Dash Core announced Dash Text, a Venezuela-based technology partnership that allows users without smartphones to conduct cryptocurrency transactions through SMS text messaging on simple cellphones. “Venezuela can be a great laboratory on how we make it easier from a product point of view, from a communication point of view,” Zastrow says.

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