A normal perception about small and medium scale enterprises in africa is that they would have no problem thriving in such a large blossoming market, especially as they are usually within close proximity to the raw materials from which the goods they sell are produced. In reality however, this is scantily the case, as SMEs in Africa are faced with problems of unfavorable institutional laws, a deficit or total lack of enabling amenities; that almost always strangle small startups before they get off the ground.
A recent survey shows that over 50% of the population of 36 out of the 49 sub-saharan african countries have NO electricity. This is staggering as power is vital for the logistical requirements of almost every small business startup. Furthermore, the issue of losses during payments is always lurking. Whether it’s through payments with counterfeit currencies, delayed or owed payments, or heavily imposed market dues by local authorities, the growth potential of these small and medium scale businesses is heavily curtailed as a result. This is where Dash comes in!
Dash, the new frontier for payments
The failures in the provision of power in Sub-Saharan Africa doesn’t however translate to the information and telecommunications sector. A great percentage of Africa’s population is very much adept at smart gadgets and social media. The popularity of technological advancements in the continent has constantly pushed the idea of a cashless policy to circumvent individual and company losses due to theft and burglary. Nowadays, it is common to see departmental stores, retail outlets, etc. insist on accepting only card payments or mobile bank transfers, because it is an easier and more secure process. It is therefore sufficient to say that if cashless transactions are the future of business transactions for business startups, then DASH transactions SHOULD be the future of cashless transactions.
How does Dash fit into the picture?
Up until now, there hasn’t been another cryptocurrency with more real world applications than Dash. Narrowing it down to Africa, Dash seems to be a perfect fit in regards to the transactions of petty traders, wholesale traders, logistics personnel, and retailers. It really does cut across the general sphere of small and medium scale enterprises. With its innovative decentralized blockchain-masternode protocol, transactions using Dash occur at unbeatable speeds of less than a second. Even paying with actual money takes more than a second, yeah? Hahaha. Anyways, the InstantSend feature of Dash enables a truly seamless transaction experience that can be used for everyday payments. Payments for electricity, repair services, transport fares, restaurant cheques, perishable and non perishable goods are all made faster and easier using the Dash platform.
Dash is a cryptocurrency on the rise, with some projections seeing it reach the $1000 dollar mark before the third quarter of 2021. So, business owners are not just being paid for their goods and services, they’re being given stocks of potentially exponential value too.
In rural communities of the continent, the reality most traders face is that they live far from the nearest satellite towns where they can obtain banking services. They trade and receive cash payments, but have to store these sums of money at home. This presents a risk for theft, which of course leads to substantial losses that may eventually cripple the business.
Now, imagine this scenario. With just a smartphone, a small business owner, lets say, a rice merchant by the name of Mr. Phillip, can take his bags of rice to the marketplace, negotiate with prospective buyers, agree a price in their local currency, and get paid the dash equivalent of such stipulated price. Mr Phillip goes home happy, without the burden of carrying huge sums of cash with him, and is able to pay for all his utilities in his rural community with Dash from his digital wallet. Now that’s convenience! That’s the future we envision in Dash Nation.
The futuristic applications of Dash in the African market are truly endless. There is a growing need to call on the institutions responsible for the regulation of businesses in Africa, to look into Dash and enable it as a standard mode of payment in public markets and retail stores.
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