Venezuela has been hitting the headlines in the last couple of years for all the wrong reasons. The mismanagement of the country has led to massive inflations, shortages on the bare minimum necessities for life, making people actually go out and hunt for their food, instead of purchasing it in normal convenience stores.
The Socialist country is known to have the largest oil reserves on the planet, however, they still managed to get tangled in inflation and an economic crisis. To put it into perspective, a piece of gum now has the price of a whole chicken. Because of the mismanagement of the economy, it became solely dependant on the oil prices, which had some rough years, ultimately inhibiting the country’s GDP massively.
However, like for nearly everything else, there is always a solution. In this case, it was the population and not the government that found it in the form of Dash, the cryptocurrency. The Bolivar became so useless that people started to opt for cryptos as their main way of payments. There are currently about 2,200 merchants that accept Dash coins as payments, making the crypto more and more popular in the South American country.
However, you may have already understood that if its hard to get food, its a lot harder to get a good internet connection in Venezuela. Therefore Dash has implemented itself into an SMS system, becoming more accessible to the population.
A hearty welcome
Dash Text is the name of the new payments system, which allows users to send and receive the crypto via SMS. The accessibility was also boosted by how easy it was to register and get a wallet. It’s quite simple, you just need to send a text “DASH” to the number 22625 followed by a “CLEAR” text.
The fact is that a lot of Venezuelans managed to escape the hell that the once great country has become. Thankfully, they have not forgotten their families and less fortunate countrymen. They send around $2 billion’s worth of shipments every year which Dash could start looking into. At this point of time, the crypto services can only be used by Venezuelan citizens who are using the country’s 2 largest telecom companies, Movistar and Digitel, which are both state owned by the way.
Dash could make the payment transfers a lot more easy for the emigrants. Venezuela may truly become one of the first crypto heavy commerce countries, as crazy as that sounds, the socialist paradise is a step forward in the technologies sector compared to everyone else.