Dash has announced the launch of Dash Text, a text message-based cryptocurrency transaction service, in Venezuela. Dash Text eliminates the need for users to possess smartphones and internet access to carry out transactions.
Venezuelans have increasingly turned to cryptocurrencies as hyperinflation has rendered the Bolivar next to worthless.
Dash is looking to capitalize on the millions of Venezuelans who are unable to purchase smartphones so that they may participate in the cryptocurrency economy. BlockCypher assisted Dash in coming up with a solution to this problem. BlockCypher specializes in blockchain solutions and products.
Though in beta, Dash Text will allow users of Movistar and Digitel, Venezuela's largest telecommunications companies, to access Dash via a five digit code.
Global Head of Business Development at Dash Core, Bradley Zastrow, said:
“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.”
To register for Dash Text users should text "DASH" to 22625, followed by another text "CREAR," to create their Dash wallet. Once completed users will be able to send Dash seamlessly through SMS.