Dash Text Enables Crypto Remittances to Venezuela Even Without Smartphones at Hand

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Wed, 09/19/2018 - 16:12
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Yuri Molchan
Now Dash can be sent to Venezuela with a simple SMS message
Dash Text Enables Crypto Remittances to Venezuela Even Without Smartphones at Hand
Cover image via U.Today

Dash Text, a company based in Venezuela, is now on the beta-testing stage. It allows sending Dash via SMS even if your phone was made before the smartphone era or if there is no Wifi around.

How it works

Dash transactions can be made by means of a five-digit shortcode on the local mobile connection provider. Other telecom companies will follow suit after the official Dash Text launch. One of the top-management team reps have shared that the company intends to help the country through their struggle with hyperinflation and troubles with payment systems.

What is going on in Venezuela

Presently, Venezuelans are short in cash, the point-of-sale network is broken down, so it takes a long time to pay for even simple purchases. Also, huge lines are standing near ATMs to get cash out. The fact that crypto is legally permitted in Venezuela gives Dash big opportunities for growth and development. Locals expect virtual coins and Dash in particular to solve their current problems.

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Every year, statistics say, Venezuelans who work and live in other countries send their families in Venezuela around $1 bln of remittances. The recent policy on tightening the rules for sending remittances are making the lives of these people much harder. Dash Text plans to solve this problem by enabling them to send crypto via SMS.

Dash is popular in Maduro’s country

This anonymous digital coin is quite popular in Venezuela now. Over 1,500 merchants accept it, as well as companies that are only starting their business. Dash Text has plans to cooperate with stores so people can pay with Dash via SMS for food and other products directly.

The company plans to integrate this by October, as well as direct collaboration with Telegram and WhatsApp messaging apps.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.