A Venezuelan crypto exchange supports crypto payments through SMS text messages. This approach of facilitating cryptocurrency use without the internet is triggering hope to improve mainstream adoption. Probably, Venezuela is all set to discover new ways to spend Crypto.
Maybe this is the key to the last mile connectivity that several cross border payment companies are trying to achieve using their remittance systems to the receiver market. Interestingly, Venezuela has been doing this since 2018.
A poor internet connection need not in any way be a hurdle to accept cryptocurrency payment anymore.
President Nicolas Maduro has been encouraging companies to develop payment mechanisms that are similar to traditional payment mechanisms. Offline payment systems compatible with the Petro currency are encouraging.
Thus, Venezuelans will now be able to send Dash, Litecoin, Bitcoin, Petro, and Glufco without an internet connection. The current challenge is to find a feasible rate for the Petro. To work as a practical method of exchanging value, the token should be stable.
Advanced solutions which will help promote the use of cryptocurrencies is the need of the hour as the whole world is looking towards efficient payment systems for their daily needs.
Daniel Metcalf announced on the Dash Brazil partnership with Blockchain Academy to launch their DASH Apps Module for developers. The focus is to create a master module to teach all the users the concepts created by the Dashpay and also a Dash Apps module exclusively for Developers.
Sascha Jochum, the Co-founder of Dash Next and Dash Thailand, recently expressed his views about living on Crypto and the changes that COVID-19 will bring to the industry. He expressed that he was interested in new technology and that he has been in the crypto space for many years with Dash from 2015.
How a person can live in Crypto? It would be great to pay on Dash. He stated that so many people are in Crypto and trading and that they have not spent even one time their Crypto. This is also the case with many people who have long time been in the cryptocurrency space like long-term MasterNodes.
He recollected on how it was not easy convincing people to accept Crypto. Businesses, after convincing and connecting to exchanges, were okay to accept Crypto if they were able to convert it to fiat without risks. A lot of education is needed to have people accept Crypto.
He also stated that a lot of value of Crypto is just speculative, and holders are not sure when they have to spend it. Either they wait for the price to go high or never spend at all waiting for the value to go further ahead.
Thus we infer, we think, people need to have a personal judgment of the best price in terms of the economy where they live and decide to spend what they can convert it to, which they feel is okay for the real-time situations.
Source The Currency Analytics