If You Wanna See What Real Crypto Adoption Looks Like In A Developing Country Checkout This Map.
Nearly 100 brick n' mortar businesses are accepting Dash in Caracas, Venezuela City.
You can chat online with a live Dash agent if you have questions are need help using Dash.
Nearly all this success getting Dash adopted in Caracas is coming from the Dash Venezuelan team that was set-up and funded last through a Dash proposal to the DAO.
The team has a full-time help desk for Venezuela in native Spanish language.
Just as Steem hit it's first 1 million accounts, getting the first 100 merchants in Caracas to accept Dash is the hardest. Now the network effect starts to compound exponentially and getting 1000+, then 10,000 accounts will be easier.
The rate at which new businesses are signing up is astounding as the maps just went live a few months back and the out reach team is has only just started.
eTora just released a research report talking about how undervalued Dash is to rest of Crypto markets, mostly due to the highest on the ground adoption of any Crypto in developing countries, especially Venezuela.
Here's a condensed version from the eToro report written by Dash Force News.
I believe it's going to be only a matter a time before Venezuela becomes the first country to mass adopt crypto currencies.
With the release of the Petro Crypto earlier this year the Government has started endorsing crypto currencies, even mandating that businesses accept them.
Hopefully these nations that have been down on their luck can use the blockchain to turn things around and show the true value of crypto.
It would sure make sense. An open and accessible financial system at their finger tips. I think they'll leap frog first. Since the legacy financial infrastructure is lacking it's necessary to use blockchain/crypto apps first. Similar to how many of the developing countries have cell towers but no landlines. They just leap frogged over to cellular.
This is what adoption looks like truly. Venezuela is a striving country. They are set to make great turns now
It's so exciting to think that we're a part of this amazing world-changing tech at such an early stage!
IMO. I believe mass adoption of crypto currency is gonna kick start from developing countries. 70% of my country’s population haven’t heard about crypto, 20% heard but have no idea what it’s all about , 10% I can say knows and have interest , 5% are crypto investors. I doubt if our government has heard anything about crypto cause I believe there should be a policy like this of Venezuela.
If this could happen in my country, then it’d be a game changer for us here in Nigeria
Yes, Nigeria is high on the list of most adoption too. I see many Steemians from there on here too. Dash has has big community there doing an outreach like Venezuela but I believe they started a few months after Dash Venezuela. Venezuela is most likely the country that adopts the most first because the hyper inflation is so crazy. How bad is inflation in Nigeria?
That is really interesting. I would have never guessed Venezuela would be that far ahead with crypto adaption. Makes me wonder whats the deal with the US. Why are we so far behind. Great post.
It's a combination of factors in Venezuela. The most important is they have hyper inflating monetary system. The last numbers I checked were around 4000% from last year. The money is losing value so fast that it's basically worthless if you don't spend it immediately. Because of the money devaluing so fast no one will accept paper money either. Venezuela is the absolute perfect storm for Crypto currency to thrive in. The Government has also started endorsing Crypto. Maybe you remember when Japan last year officially came out and announced Bitcoin and Crypto currencies are indeed currencies just like any other currency. That's very important b/c of taxes reasons. Around that same time was when the markets really took off last Spring. While many people are worried about hostile actions of Governments around the against Crypto, there's much more positive Government approvals than trying to ban. I have no doubt Crypto will first take off in a developing country that has a very unstable economic system than the US where dollar is decreasing in value over time but at slow and steady rate. USD is the most stable currency in the world although its still lost 95% of its value over the last 80 years ;-) Not a good store of value like Gold or Crypto to say the least ;-)
That makes a lot of sense. It is so sad that our USD is the most stable and it has lost so much of its value. Silver Gold and Crypto that's what I am betting on. Thanks for the reply. Have a great evening!
Yep. It makes not any sense to save in USD with interest below 5% annually. Even with rates rising a lot since last year having a longterm Government bond still only pays 3%. The annual cost of living increases are more than that. Fiat printed money not backed by hard metals and Crypto is probably going down in society as the biggest scam of history. The Central Bankers print off trillions paper stubs devaluing our money ever year. Rather or not society recognizes it's the biggest scam of all time today questionable but in the future looking back once we get a blockchain world the majority will realize it was indeed just like stealing trillions from hard working Americans.
You took that Venezuela's kippo. I wear it all. I would have never guessed Venezuela would be that far ahead with crypto adaption. ideas about Venezuela's Kipto increased. Thank you for this. I'm looking forward to posting more lessons.
Wow this is amazing then if government policies can actually affect the adoption of crypto currency in Venezuela, then there’s evidently no doubt that they will be the first country in the world to mass acceptance crypto currency
Evidently true my friend , thanks for the information
This I totally agree with you cause it is so obvious from the map. Wow, the war against fiat has been won and now it’s the regime of crypto currency. This is just the beginning, blockchain and it’s crypto technology is the most amazing and highly developed technology of our time . And I’m glad I got into the game when it is at the toddler stage . Thanks for the enlightenment
Thnxxx fr giving us a nic infrmation sir@hedge-x.
Evrybody should follow this i think...👌
Nice piece of information man. Totally agree with man. 👍