By Published On: August 23rd, 2020Categories: Voices Of Dash NationComments Off on The Impact of Dash on the Latin American Economy

Is Latin America the continent most affected by constant economic changes? Unfortunately, the answer is yes. It’s known that in the economic sector of any country, there will always be changes that will positively or negatively influence its development. Some continents offer general economic stability, but in Latin American countries, the economy is very inconsistent. As such, the national currency of each one of them suffers constant devaluation. Some cases are out of the control of governments, and others are caused by them. Venezuela one of the countries most affected in South America.

In the last 20 years, the Bolívar, the national currency of Venezuela, has experienced significant fluctuations in its market value, and also in its denomination (Bolívar Fuerte, Bolívar Soberano). In recent years it’s experienced quite a significant devaluation, and Venezuelan people have been forced by the country itself to look for different alternatives to survive and gain a better quality of life. For example, some of the people were forced to emigrate to other countries in America and the world. Those who didn’t have income to emigrate, began to explore new ways to generate money from their home obtaining them through digital currencies.

The arrival and impact of cryptocurrencies in the world

Cryptocurrencies are weapons to fight against the inflation that many people experience daily. It’s important to say that the main reason why they are increasingly popular among users is because they operate within a decentralized system whose activity is not regulated by any government entity or centralized corporation.

Bitcoin arrived in 2008, and later other cryptocurrencies did the same. Slowly, the world economy began to change because of their influence. Currently, cryptocurrencies are in a hand to hand fight with the traditional fiat currencies, thus impacting the global financial system. Cryptocurrencies are presenting themselves as possible solution for economic future.

The greatest response to cryptocurrencies has been from all those who seek change and a better lifestyle. European countries have been some of the main initial drivers of cryptocurrencies, however, Latin American countries may become the main engine of future usage and expansion of cryptocurrencies. A big reason for this is the aforementioned one: The economies of the countries on this continent don’t offer the same stability that European countries do because their inflation is rampant and frequent. The store of value that cryptocurrencies provide would be more than welcome in those countries.

Dash’s eruption in Venezuela

Nowadays, there are many cryptocurrency options but there’s one in particular with great features, a rising star. Its name is Dash. Dash was originally launched in 2014 as XCoin and then changed its name to Darkcoin. Finally, its name was changed again to Dash to avoid association with the “darknet” markets.

Dash is a union of the English words “Digital Cash” that translates into Spanish “Dinero Digital” and is one of the most used cryptocurrencies in several Latin American countries and some others around the world.

Dash rises in the Venezuelan market

In Venezuela, many companies and several services have authorized the use of Dash as a payment method. These integrations allow users to pay with Dash for all kinds of products and services, such as Megasoft, parking, retail stores, restaurants, and delivery of basic items, among others.

In 2019, Dash’s active wallets grew exponentially by 410% in Venezuela, increasing from 7,587 to 39,759 according to data obtained from devices affiliated with the Google Play store, providing a clear picture that this cryptocurrency is strengthening in the Venezuelan market. It’s clear that the people of that country have lost total confidence in their native currency due to so many changes that have occurred in their economy. In the 50s, Venezuela lived under the dictatorship of Marcos Pérez Jiménez and at that time the Bolivar had more value than the dollar. Times have since changed dramatically.

Venezuela as a country with the highest adoption of Dash applications

Dash offers technology which is innovative and captures the user’s attention. According to a source from DiscoverDash (a Dash merchant listing site), this cryptocurrency has reached more than 2000 registrations in Venezuela and the numbers continue to grow. Venezuelan businesses represent almost a third of the global total of Dash-accepting merchants. This indicates quite a high adoption and usage level there for Dash in comparison to other cryptocurrencies.

It also offers an easy, stable and accessible payment method. In some cases, electronic payment methods are difficult to obtain in Venezuela due to the instability of the Internet service.

It’s important to mention that Caracas, Mérida and Zulia are considered the states of Venezuela with the greatest emergence of Dash in their shops and businesses. Most of the marketing used to promote Dash has been carried out by teams from Dash Help, Dash Text and Dash Mall and Parking in these areas.

Venezuela is ranked first as the country that has the most business and services accepting and using Dash. It’s above the U.S., Colombia, Switzerland, France, Nigeria, Germany, Canada, Australia, United Kingdom, Ukraine, Spain and Thailand. This proves the explosion of Dash acceptance and usage in this country.

A brighter economic future

Finally, Dash provides solutions to users. You can be your own bank! Dash offers you the possibility of being in charge of managing your own earnings which helps with economic growth and being an entrepreneur.

A future of prosperous economic growth has arrived and Dash has been the catalyst for it!

About the Author: Aldo

Venezuelan Teacher and Writer! I'm positive and strong. Tips graciously accepted: XoXNCV4jQ1QWp1g1c6cEsx4R7xKJKKaNmR

Dash Nation is always on the lookout for talented writers for news and blogs. If you wouldn’t mind sharing your talents with the movement towards financial freedom through Dash, please contact the team at go.dashnation@gmail.com.

Join Dash Nation Today!

The Blue Hearts have a presence on all major social media platforms and communication channels on Reddit and Discord. Join us!

Dash Nation on Reddit
Dash Nation on Discord