Dash Maracay recently held “The Evolution of Digital Money” conference in Maracay, Venezuela for around 200 people.

The event was organized by Dash Maracay with the support of Dash Venezuela, whom has hosted numerous Dash conferences in Caracas, Venezuela. Eugenia Alcalá, founder of Dash Venezuela, said at the event how important cryptocurrencies are, especially Dash, to help solve the economic and social ills of Venezuelans.

In the economic sphere, the Venezuelan daily faces five obstacles: exchange control, cash shortage, hyperinflation, collapse of payment systems and transfer limits. The use of Dash is a way to overcome these obstacles.

The event was geared towards a wide audience from individuals to entrepreneurs to businesses that wanted to incorporate Dash into their lives. Attendees were educated about the history of cryptocurrencies, the competitive advantages and features of Dash, the Dash communities throughout Venezuela, and the general benefits and usages of blockchains. Then Ernesto Contreras, the Dash Core Group Regional Manager for Latin America, summarized the revolutionary potential of cryptocurrencies.

[Blockchains] and cryptocurrencies will do with the financial industry what the Internet did to the media industry.

The conference wrapped up by hosting the traditional Dash City where local entrepreneurs and businesses could sell their goods and services for Dash. Check out the source article for some Dashy pictures!

Dash expands throughout Venezuela

Dash has rapidly grown throughout Venezuela with over 1,600 merchants currently accepting Dash, which is almost half of all the global merchants listed on DiscoverDash. Dash has seen massive adoption in the Venezuelan capital of Caracas and is now spreading to neighboring cities. This rapid growth brings attention to the fact that Dash is immediately helping many individuals in need of a fast, cheap, and reliable method to spend and store their money and wealth. However, many of these individuals are located in areas that also do not have the most reliable data service.

Dash Text is aiming to bring the advantages of Dash to individuals in Venezuela that have weak or no data services, which further demonstrates Dash’s ability to help some of the worst off individuals. CoinText has also just integrated Dash into their SMS-based platform in the US and Canada that previously only used Bitcoin Cash. SMS-based texting can operate over a regular cell service network, which is much more pervasive than data service around the world. It also enables more savings as SMS-only cell service is often less expensive than data service, which is even more beneficial for poorer individuals that are disproportionately affected by inflation and a lack of banking services. Both of these services are simple, economical, and practical solutions to help give more people financial and monetary freedom, which stands in stark contrast to other attempts like Bitcoin’s Blockstream satellite that costs a lot of money and raises questions of perverse incentives. Instead, Dash’s structure has created a community through economically aligned incentives where individuals are acting in the best interests of the network’s consumers to provide better and cheaper services.

Dash is structured to innovate and educate

Venezuelan hyperinflation has left individuals looking for solutions of better money, but what made them adopt Dash en masse over Bitcoin and other cryptocurrencies is heavily due to the extremely active Dash community in the country. Dash Venezuela, which started out as Dash Caracas by Eugenia Alcalá, hosted Dash conferences to make Venezuelans aware of Dash and the technological superiority it offers in the from of super low transaction costs, extremely fast confirmation times, great security, InstantSend, PrivateSend, usability, and DAO Treasury. This made many individuals aware of Dash, the advantages it offered, and persuaded many to adopt Dash.

The DAO Treasury provides an opportunity for Dash Caracas, Dash Venezuela, and other community outreach groups to get funded by the network, which greatly enhances their event capabilities and market reach. The unique structure of Dash has not only enabled technological advances, but also enabled the Dash network to educate consumers about its attributes that they might not have known otherwise.


*Note: Translation of source article was conducted via Google translate