HomeCryptoDash Text, pay with crypto via SMS in Venezuela

Dash Text, pay with crypto via SMS in Venezuela

Dash Text is a new Venezuelan company that has decided to take advantage of the problems of the country and the success of Dash to build a mobile app that allows you to make crypto payments via SMS.

Currently, the app is available to the public in a beta version and it can make transactions through a shortcode of 5 characters that are sent via text message by Movistar, one of the three largest phone companies in the country.

According to the co-founder of Dash Text, Alejandro Echeverría, the aim of his company is to solve the problem of hyperinflation in the country by allowing immediate payments with crypto.

The Bolivar loses around 3-4% of its value per day, so Dash is the perfect alternative for Venezuelans to save their money against hyperinflation,” Echeverría said. “And since cryptos are legal, there is a huge opportunity for Dash here. Currently, there is a shortage of cash in Venezuela, and this has caused the point-of-sale network to collapse and people spend hours in order to pay a simple purchase. People also spend hours in line for withdrawing cash from an ATM. Dash can solve this perfectly“.

Venezuelans living abroad send about $1 billion home each year, but recently this procedure has become a problem.

According to recent studies, Dash is the most widely used crypto in Venezuela: over 500 merchants allow this type of payment.

Amelia Tomasicchio
Amelia Tomasicchiohttps://cryptonomist.ch
Esperta di digital marketing, Amelia inizia a lavorare nel settore fintech nel 2014 dopo aver scritto la sua tesi di laurea sulla tecnologia Bitcoin. Precedentemente è stata un'autrice di diversi magazine crypto all'estero e CMO di Eidoo. Oggi è co-founder e direttrice di Cryptonomist, oltre che Italian PR manager per l'exchange Bitget. E' stata nominata una delle 30 under 30 secondo Forbes. Oggi Amelia è anche insegnante di marketing presso Digital Coach e ha pubblicato un libro "NFT: la guida completa'" edito Mondadori. Inoltre è co-founder del progetto NFT chiamati The NFT Magazine, oltre ad aiutare artisti e aziende ad entrare nel settore. Come advisor, Amelia è anche coinvolta in progetti sul metaverso come The Nemesis e OVER.
RELATED ARTICLES

MOST POPULARS

GoldBrick