Forbes recently interviewed Ryan Taylor, CEO of Dash Core Group, about Dash, Dash Core Group, and the competitive advantages that Dash offers.
In the Dash section of the article, Forbes highlights that “Dash attempts to differentiate itself via a structured and decentralized governance model, something which Bitcoin and Ethereum lack”. The article then proceeded to let Ryan discuss the advantages that Dash offers.
“Typically 100% of the transaction fees and new coins go to miners. However, in Dash, we realized that while network security is important to incentivize, we also want to incentivize network connectivity, node maintenance and development. In this way, 45% of the fees and new coins goes to miners, 45% goes to master nodes and then the last 10% goes into a treasury once a month.”
Ryan then went on to highlight that at current fiat exchange prices, the treasury has around $1.5 million USD per month and anyone can view proposals at dashvotetracker.com. Ryan also discussed the advantages that Dash Core Group provides over other non-profit foundation like the BTC or LTC foundation.
“We created a new structure that has never been done before by creating Dash Core Group Inc., a Delaware C Corp. 100% of the shares in the company are issued to a trust. The beneficiaries of the trust are masternodes, users with over 1000 Dash Tokens who provide governance and maintain the blockchain. This means that Dash Core Group Inc. is owned by the network we serve. Although we are a C-Corp, we have no strong profit motive, and instead, draw our resources from the Dash Treasury System.”
Overall, Ryan’s interview section of the article focused on how Dash differentiates itself from other cryptocurrencies.
Providing sustainable funding and growth
Ryan then went on to discuss how the Dash DAO Treasury is able to fund “integrations or marketing costs around the integration of Dash in existing companies”, along with “sponsorships, conferences, [and] radio shows“, such as “Alt36, a cannabis payment gateway in Arizona and Kuvacash, a new electronic payment gateway in Zimbabwe”. Ryan then went into discussing Dash Ventures and how it stands to expand the Dash funding ecosystem, such as allowing more high risk investments or generating more returns for the network.
“The great thing is that anyone can create a Dash Treasury funded group of their own, so long as the masternodes approve the proposal. We believe there will be several Dash Ventures with different charters. Some may be purely profit motivated, regardless of connection to Dash. Others may be focused on profitable investment involving Dash. A third may just be related to social impact and infrastructure as it relates to the Dash ecosystem.”
Dash Ventures provides an opportunity to create a more robust funding ecosystem by allowing each area of Dash funding to be specialized, as is somewhat already occurring. Dash DAO Treasury will be able to focus on more grant style funding for proposals that have less well-defined monetary returns to the network and more development-based returns. Dash Ventures will be able to have a host of funded ventures of various levels of risk and profitable returns. DashBoost will be able to focus more on seed funding and early round investments for small startups, while DashDonates will be able to focus more on charitable donations to proposals not directly funded or actual charities.
These features of Dash are in stark contrast to other coins that have to strictly rely on donations by third parties that may have interests unaligned with the rest of the network. All of these Dash attributes have shown in the Forbes article that Dash has the ability to grow and adapt by focusing on real value rather than only speculation.
Dash is gaining more recognition for its advantages and growth
Dash has had these competitive advantages of low transaction fees, fast confirmation times, security, privacy, funding capabilities, and more for a relatively long time now. However, Dash has struggled with recognition within the cryptocurrency space, let alone mainstream media outlets, which has put the onus on Dash funded community outreach groups to spread knowledge of Dash. Now, this Forbes article and other recent podcasts and news articles have signaled a shifting tide in recognition of Dash’s competitive advantages. Dash is focusing on everyday payment usage by providing an inexpensive, fast, and secure currency. So as media recognition of Dash increases, adoption will be poised for larger growth, as consumers and merchants see and understand Dash’s competitive advantages.