Dash has funded a continuing education and adoption push in Venezuela, while the country’s government considers adopting its own cryptocurrency.
Run by the Dash Caracas outreach group, the initiative focuses on holding two additional conferences in continuation of the first major conference, which was a runaway success, exceeding projected attendance figures by over double. The second and third conferences proposed would go deeper into Dash, its future roadmap, and the process for participating in its ecosystem.
The proposal was passed with overwhelming support from the Dash community (901 Yes / 34 No / 55 Abstain).
A country ready for economic change embraces blockchain
While Dash awareness continues to rise, Venezuela is experimenting with other digital currency approaches. In an attempt to escape from the ill-effects of a failing currency, as well as skirt economic sanctions facing the country, the Venezuelan government has floated a proposal for a crude oil-backed cryptocurrency dubbed the petro.
While this itself would not represent a move towards a financial freedom for the country, an “official” move towards any different system, in particular one based on blockchain technology, makes the prospect of switching to using Dash much less daunting for the average person or business.
Dash’s cheap transactions and growing value make a great counterpoint to the present system
Dash is uniquely poised to thrive during the economic upheaval taking place in Venezuela. As a payment system, Dash offers instant transactions, as well as low fees, which recently were reduced tenfold, making typical transactions cost under one cent USD. Additionally, as a store of value Dash has performed very well, growing in price considerably over this year, growing from the $10 range in January to a recent high of over $800. Additionally, publicly-listed Dash-accepting businesses around the world approach 550, including nine listed in Venezuela, with more on the way as the conferences draw more crowds and merchants.