Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Dash Forum => Privacy Coins Forum => Dash News & Updates => Topic started by: PRIBO247 on December 18, 2018, 05:58:06 PM
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Dash went to Twitter on December 12 to announce that the
Dash cryptocurrency started being accepted as a new method
of payment in ten Church’s Chicken locations in Venezuela.
According to the announcement, Customers of the local church
chicken franchise in Venezuela can now order food and opt for
Dash to settle their orders, by scanning a QR code with the
customer’s wallet and total order amount, use their Dash
wallet to send the funds then wait for confirmation.
A Giant Fast Food Franchise Embraces Dash Payments
This announcement is a watershed moment for
cryptocurrencies adoption as a viable method to pay for goods
and services, taking into account that Church’s Chicken is one
of the biggest fast-food franchises in the world.
According to its official website , with over 1650 locations in 29
states in the USA, and 23 global markets, the San Antonio
founded, and Atlanta headquartered franchise, is undeniably
one of the largest chicken restaurants in the world, besides
being the fourth by revenue in the US behind giant KFC, Chick-
fil-A and Popeye’s.
Commenting the announcement, the General Manager of
Church’s Chicken Venezuela Orlando Gustavo said to Dash
News :
“The Dash Venezuela and Dash Core Group teams
have been instrumental in helping us adapt our
payment systems, staff training, and providing
counsel on all essential internal and legal processes
for this integration, helping us become a global
pioneer franchise in terms of accepting
cryptocurrencies as a payment method. This
integration was the result of our trust in Dash and its
role as a growth agent in this new financial world, a
system which can be successful in any market across
any number of different industries.”
Dash Standing Still in a Bear Market
Dash outperformed most cryptocurrencies in terms of merchant
adoption in Latin America and especially Venezuela, despite a
downtrend that saw price depreciations nearing 90% for most
digital assets.
In Venezuela, locals seem to be turning to cryptocurrencies as
a more stable means to transact and store value, on grounds
of a hyperinflation running wild in the socialist country.
As of December 2018, most of the initiatives put forth by the
government seem to have failed to stabilize the economy, and
the Bolivar 95%+ devaluation measure, plunged millions into
poverty and induced an unprecedented wave of refugees to
neighboring countries.
In the midst of this, Dash managed to gain the support of
around 2500 merchants in Venezuela according to Dash
Discover , and the company is reporting a steady increase in
new merchant sign-ups and wallet downloads every week.
Other Brand names that have signed up to accept Dash
payments in Venezuela include Subway and Calvin Klein.
In fact, Dash proved suited to act as the closet form to Digital
Cash, with its low transaction fee structure in the order of
pennies, and its confirmation times in the order of seconds with
the InstantSend exclusive feature.
Besides, the fact that the Dash treasury has helped finance
projects on the ground helped raise its popularity and
legitimacy among Venezuelans.
It is worth mentioning that 10% of new mined block reward,
goes into the treasury fund aimed at financing projects that
would expand and profit the Dash ecosystem.
source: https://blokt.com/news/