— Dash India (@DashIndia1) August 29, 2018
Dash Force News caught up with Supreet Raju, Project Coordinator of Dash India, about their initiative to save individuals money, time, and effort.
“Dash India is a community endeavor to inform & educate users in India about Dash and its use-cases through content in local languages and PR campaigns. India is one of the fastest growing economies in the world with rapidly increasing mobile penetration. It is also the world’s largest remittance market with $65 Billion in remittances last year. We are currently focused on this market as remittances is a major but underutilized use-case for Dash.“
Supreet continued by discussing their goal to “establish a critical mass of awareness about Dash in India about remittances – since it is a very practical use case”. To emphasize the impotence of the issue, Supreet highlighted that “Indians collectively lose $5 Billion annually on remittance fees alone”.
“By supplanting legacy systems like Paypal & Western Union with Dash, we aim to empower Indians with more financial freedom.”
Supreet highlighted that Dash is still not as well know in India as other brand-name cryptocurrencies. However, the Dash India team is “trying to change that with content that helps people understand the benefits of Dash and how they can start using Dash in real life”.
Expanding the community despite obstacles
Supreet said that despite government and political debate around cryptocurrencies, “crypto is beginning to take hold at a grass roots level in India’, and as proof of its popularity, “India already accounts for 10% of the global Bitcoin volume and [the Dash India team] see[s] palpable excitement among people”. To leverage this opportunity, the Dash India team is focusing on “[b]eing a [d]igital-first effort so far” and they “are region agnostic and are focusing on users online”. They wanted to pursue this strategy because it gives them “wide reach and enables [them] to reach a technically mature audience with a greater propensity to utilise crypto”.
The regulation in India is still uncertain as the “Reserve Bank of India is in the midst of drafting policies, which are expected to be released by end of this year”, Supreet highlighted. Despite individuals’ excitement for cryptocurrencies, Supreet added that “the overall trust remains low, given the high degree of volatility and scams in this market”. Dash India plans to overcome this by “establish[ing] trust through education and build[ing] more awareness that gives them confidence in considering Dash as an opportunity, investment and a legit currency for use”.
To continue their growth, Dash India plans to scale “through a combination of online education, social media growth and building engagement offline through conferences” since they see a lot of opportunities with younger individuals. They are currently “laying out plans for hosting [their] first conference in Q4 and also kickstart digital engagement via [their] social media channels” to target an important growth area.
“The key to expansion in India, as with any country is to get the community to grow – we wish to bring Dash to India and hopefully the community will keep growing.”
Dash grows through decentralized community
Dash has been able to rapidly grow its network and adoption, a merchant adoption rate of over 2500 merchants, over the past couple years because of Dash’s decentralized community. The Dash community is a combination of individuals funded by the Dash DAO Treasury and volunteers to make projects a realty. The DAO Treasury enables the Dash community to fund development and community outreach proposals directly from 10% of the mining rewards each month, which greatly enhances the efficiencies of Dash to help individuals of all socio-economic groups around the world. However, Dash also runs heavily on volunteers, but it can be argued that these volunteers are incentivized to perform at their highest capabilities because they are either working to eventually get funded by the DAO Treasury or heavily believe in Dash due to its unique structure mentioned above.
These features combine to make the Dash community extremely generous, cooperative, and productive with thriving and decentralized communities such as Venezuela, Colombia, Africa, and more. Plus, the Dash community further displays its altruism through DashDonates to help fund projects not funded through the treasury, as well as displays its innovation potential through DashBoost and the coming Dash Ventures to fund even more projects. Overall, this cooperation of many decentralized groups has led to numerous integrations and partnerships around the world that vastly enhances the ability of consumers to gain economic and financial freedom with Dash.