Back

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

News
Wed, 09/19/2018 - 16:12
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
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.

Must Read
Zimbabwe’s Broken Economy Forces Country to be a Cryptocurrency World Leader? - READ MORE

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.

Must Read
9Lives Arena Kickstarter: The First Blockchain Gaming Multiverse Item Sale - READ MORE

About the author

Yuri is a 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. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

Recommended articles