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Key facts:
More than 800 local business accept a Dash in the country, the first place on a global scale.The nation’s oil concentrates 30% of the total portfolio Dash for Android.The use of cryptocurrencies in Venezuela is not something new. The severe economic crisis, social and political challenges facing the country pushed thousands of people to seek new methods of payment, or shelter in new assets, with the devalued national currency, the bolivar. Dash is one of them. From 2018 the Dash evidence of a growth in the nation’s oil hype, marketing and the activation of various independent groups that promote their use.Initiatives such as Dash Maracaibo, Dash Coasts of Aragua, Dash Latam, Dash, Text, Dash, Venezuela, Dash Merchant, Dash Maracay or Dash Cabimas, are some of the groups, funded in part by the treasury of the Dash, that make or have made life in Caracas and dozens of other cities to implement projects and drive increased adoption of Dash and of the cryptocurrencies in general.Venezuela is the country with the largest number of commercial establishments that accept a Dash in the world. According to the figures of Discover Dash, there are more than 800 business assets that processed transactions with this criptomoneda, which places the nation above the united States, Colombia, Austria, France, Nigeria and Germany, among others.Estimates of Discover Dash point out that in Venezuela there are more than 800 establishments that accept this criptomoneda. Image courtesy of George Donnelly.Another fact that calls attention is that Venezuela is concentrated around 30% of the total portfolio Android of Dash. On these two aspects, Ernesto Contreras, business development manager of Dash Core Group in Latin america, pointed out that the expansion happened at the beginning of 2018.“Dash had virtually no presence in Venezuela at the beginning of 2018, this is to measure the number of portfolios and businesses that accept the criptomoneda. Already in August 2019 the country accounts for about 30% of purses Android Dash at the global level. Venezuela gets a lot of attention from the world of crypto by the difficult economic situation, geopolitical and especially because the cryptocurrencies have the potential to solve several of the problems that are evident in the country,” explained Contreras to Breaking News.
Funding system
The deployment of national groups is partially funded by the cash Dash, a fund that allocates 10% of the reward of the mining of this criptomoneda. To have access to the resources and devote them to projects, advertising, events or marketing, enthusiasts must submit a proposal in dashcentral.org, for example, and to achieve its approval. Those who give the seen good, are the operators of the master nodes, who through the Testing protocol of Participation (PoS) have the power of choice in their system of governance.It is as well as have been born of different initiatives on a global scale and also in Venezuela. Each group works independently of each other either geographically or by the aim of their project, in some cases, with some redundancy in the work,” added Contreras to this newspaper.The groups that are driving the use of Dash in the country visiting shopping centers and entrepreneurial individuals. Image courtesy of George Donnelly.This mechanism has allowed the creation of groups from Valencia, in the center of the country, to the west of Venezuela. Such is the case of Dash Maracaibo based in the state of Zulia, which is located about 700 kilometers west of Caracas.The region is the most affected by the crisis with power rationing for 12 hours a day, shortages of cash, fuel and medicines, but at the same time it is an opportunity to capitalize on increased adoption of Dash. However, the picture is not as simple as it seems.Joney Castellanos, Dash Maracaibo, explains that given the weakness of the bolivar people seek refuge in nature in the u.s. dollar, which complicates the process of adoption since the users feel that it is easier to get the national currency that the own Dash.“It has made the issue of adoption is a complicated issue because that goes beyond shopping Dash with bolivars. It has to do with explaining how to register on an exchange platform, how to place the data or to find who has the price. Our work goes beyond a simple adoption, going to the plane to convince the user why it is much more practical to use cryptocurrencies”, said Castellanos.In the event that has made the group in the capital of zulia attendees show interest in the Dash due to the speed of the transactions. However, the enthusiasm many times is turned off when it shows them how to acquire it in the houses of change. “You say that it is very difficult, it is easier to buy dollars,” added the representative of Dash Maracaibo.Among the aspects that hinder the expansion of Dash in the country is that most of the content related to the criptomoneda are in English. For this reason the groups seek to deliver the greatest amount of information in Spanish to explain their system of governance, for example. Another obstacle are telecommunications and the low speed of the internet.So it happens in the coast of Aragua state where the telephone signal is intermittent and the connectivity it represents a problem on a daily basis. Ysidro Valero, of the group Dash Coasts of Aragua, indicates that in the tourist towns of Ocumare, Cata, Cuyagua, Choroni and Chuao is usual not to count on the service of telecommunication. However, this has not prevented it to conduct talks and events with dozens of interested in the Dash.“The people and traders want to know what is the ABC of the cryptocurrencies, its regulation, and how to record them in their books. Currently there are more than 30 startups that are accepted Dash as a way of encouraging the criptoturismo among venezuelans and those who visit us from abroad,” explained Valero.
Relationship with the merchants
The working groups of Dash in Venezuela operate with a dual purpose: teach users how to use the criptomoneda and incorporate more and more new establishments that will accept them. From home appliances stores to parking lots, in the country there are many places to pay with Dash.The dynamics of working with the owners of the business premises may vary from city to city, it all depends on the characteristics of the business, the personality of the owners and the commitment they have to work with Dash.To George Donnelly, coordinator and founder of Dash Latam, this has been one of the challenges for the expansion, but at the same time dealing with the merchants has served them of experience to promote a better use of the criptomoneda.“It is difficult to find the owners of the shops. There are even some who do not want to let you know. There are shops that close, open, change of owner, the staff changes. The owners change their minds, lost cell or deleted portfolios. Small businesses are always in flux and we have to flow with them”, stated the executive to Breaking News.Various types of establishments accept Dash in Venezuela as the sale of electronic equipment. Image courtesy of George DonnellyEn regarding the strengths of the venezuelan market, Donnelly has no doubt to say that there is a lot of interest in the cryptocurrencies in the country, but that is still a long way to go for greater adoption. On the way in which each group proposes ideas and carries forward its proposals stresses that the experience is stressful, but at the same time invigorating.“It is a process of victory and defeat, life and death. Causes Me to doubt myself, this helps me to improve the contributions. Everyone pushes out of your hand with the projects,” he said.Although the interviewees highlighted the advances that have been experienced in the past two years, also agree that the adoption is not perfect and that problems are reported at the time that someone wishes to pay for services or products with Dash. This is because many times the person in charge of the business is not in the place to process the transaction or you do not know how to operate the portfolio, something that they claim has been corrected.In a second installment of how has been the expansion of Dash in Venezuela will present new testimonials, interesting facts, and what are the growth expectations of the groups that promote the use of the criptomoneda.