The public blockchain project — Dash recently made it known that it has launched an SMS-based cryptocurrency transaction service for Venezuelan users— Dash Text.
In a recent announcement from DASH, it was made known 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 hyperinflation currently being experienced by the country has rendered the country’s official national currency— Bolivar, worthless. This has made the dependency on cryptocurrencies in the country the only option.
Dash is looking to take advantage of the crypto solution hungry population of the country, who are left out of the crypto economy due to their lack of smartphones or access the internet.
It was reported that Dash partnered with another blockchain company known as BlockCypher to built the Dash Text. BlockCypher is said to specialize “in blockchain solutions and blockchain agnostic products that enable users to engage with multiple cryptocurrencies through one platform.”
Dash Text is currently in its beta testing stage and only users of Venezuela’s largest telecom providers — Movistar and Digitel can access the platform. These users can access Dash services via a simple five-digit shortcode.
Pertaining to this latest development, the Global Head of Business Development at Dash Core, Bradley Zastrow, has this to say:
“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.”