A SMS-based Cryptocurrency Transaction Service for Venezuelan Users has been Launched by Dash

A SMS-based Cryptocurrency Transaction Service for Venezuelan Users has been Launched by Dash

a sms-based cryptocurrency

Based on a recent report, the public blockchain project — Dash, has ventured into Venezuela’s blockchain adoption focused economy and it has launched an SMS-based cryptocurrency transaction service for the country’s none internet and smartphone users.

Dash Text to Aid Venezuelan Users

Venezuela which is currently going through a hyperinflation, the biggest ever witnessed by a South American country, is banking on Cryptocurrency to get itself out of its present situation. The Venezuelan government has also created a nationally backed crypto —Petro. Going by this information and the overall wide acceptance of cryptos in the country, Dash has decided to take advantage of this blockchain rich economy through the creation of Dash Text.

A report stating the significance of the new platform from DASH mentioned that:
“the introduction of Dash Text will eliminate the need for Venezuelan users to possess smartphones and internet access to carryout crypto transactions.”

Venezuela which is suffering from hyperinflation has not been able to truly enjoy the benefits of blockchain technology. The introduction of the Dash Text is expected to change this.

The Global Head of Business Development at Dash Core, Bradley Zastrow, has this to say about the new technology and the Venezuelan economy:
“Venezuelans living abroad send an estimated $2 billion USD back home in remittances. This process often takes too long and costs too much, making it a huge pain point for many users. With Dash Text, we are providing real solutions that address real problems.

People need easy and cheap ways to send money home, and we’ve done it in a way that expands the Dash ecosystem to those without smartphones! Dash Text offers the perfect solution to ensure that everyone can become part of the Dash family, regardless of what phone people own.”

Dash Partnered with BlockCypher

To develop this platform it was made known that Dash is in partnership with a blockchain company called BlockCypher. The company deals in providing blockchain solutions and blockchain agnostic products aimed at enabling network users to engage with multiple cryptocurrencies through one platform.

Currently, Dash Test is in its beta stage. The beta stage is only available to the user of Venezuela’s largest telecom providers Movistar and Digitel. These users can access the platform via a five-digit short code.