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Dash Coin News: Dash’s New Service to Help the Victims of Hyperinflation

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Dash coin news

According to recent Dash coin news, this well-known altcoin is preparing to launch a new cryptocurrency payment service in Venezuela. The new service will be based on SMS messages, and it will allow Venezuelan users to carry out transactions even without a smartphone.

Dash coin news announces a text-based crypto service in Venezuela

Considering how much Venezuela grew to rely on cryptocurrencies, this will be a large game-changer for some of their citizens. Not having a smartphone, or not being able to use one, has been a large issue for the people of Venezuela. Experts believe that this may have been one of the largest barriers that prevented the country from properly adopting cryptocurrencies.

Venezuela is a country that has been suffering from hyperinflation for some time now. Their native currency, the bolivar, became almost completely worthless. As a result, Venezuela had to implement a new monetary solution in form of digital currencies.

Now, Dash is trying to speed up the process of crypto adoption by providing an alternative method of trading for those who do not own smartphones or lack internet access. To do this, Dash has entered a partnership with a company called BlockCypher. This is a firm that specializes in providing blockchain-based solutions and products that allow users to operate with several different currencies via one single platform.

The result of the partnership is earlier mentioned Dash Text project, which is currently in the beta phase of testing. In collaboration with Venezuela’s largest telecom providers — Digitel and Movistar — Dash will allow users of these services to access its platform via five-digit code.

Dash Text to reduce the effects of hyperinflation

Dash Core’s global head of Business Development, Bradley Zastrow, commented on the move by saying that Dash Text will provide solutions for all those who struggle to survive in Venezuela due to hyperinflation. So far, Venezuelan citizens who left the country have sent over $2 billion in remittances. While this seems like a lot at the first glance, it did not help much since the method of sending this money is complex and costly. With Dash Text, Venezuelan families will be able to get to this money in an easy and cheap way, while Dash’s own ecosystem will grow without the need for a smartphone.

Registering on Dash Text will also be very easy to do, according to Dash coin news. Users can easily complete the process by sending a text with the word “DASH” to 22625, and then send the word “CREAR” to create a Dash wallet. After that, sending and receiving Dash via SMS will be simple.

Dash has had a strong presence in Venezuela ever since August of this year, when the coin was successfully adopted, which sparked a price surge. Since then, Dash has partnered up with multiple retailers across the country, and it even made a deal with a mobile phone maker, Kripto Mobile.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Rufino via Flickr

Altcoins

GDA Capital in Conversation About the Future of Digital Assets at Global Family Office Summit

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GDA Capital organized the quarterly Global Family Office Summit this week. The event was held virtually with a number of technology leaders and high net worth investors who discussed issues such as education, trust and responsibility to give back. Among these were insightful conversations with Dubai-based Dalma Capital’s CEO Zachari Cefaratti, Holt Fintech Accelerator founder Brendan Hold Dunn, Global Data Sentinel CEO and White City Ventures Chairman of the Board Shahal Khan, and Elitium CEO Raoul Milhado, among others. Participants were also given access to off-market opportunities to invest in novel technologies.

Will Bartlett, GDA Capital’s Director of Research, headlined the event by focusing on tech in the modern economy, and identifying six sectors where new technologies can make a lasting impact: robotics, space, biotech, machine learning, quantum computing, and blockchain. In the context of blockchain, he discussed how digital assets are a hedge against traditional financial markets. “Cryptocurrencies have no exposure to stock market returns, macroeconomic factors, or returns of currencies and commodities,” Bartlett said.

More so, Bartlett believes that new models for digital assets such as DigitalBits’ branded stablecoins are key to the development of the field. These currencies replace traditional rewards and loyalty point systems that are commonly used by household brands by porting them to the blockchain. Meanwhile, they rely on brand…

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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Messari Adds DigitalBits (XDB) & Branded Currencies to its Registry

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One of the top providers of crypto data and research tools on digital assets Messari has announced the addition of DigitalBits (XDB) to the Messari Registry. As a participant, DigitalBits governing body, the XDB Foundation will be providing regular updates and commit to transparency. The DigitalBits blockchain was built to support consumer digital assets – branded currencies.  As the company stated, “a global, legacy digital asset class, branded currencies play a vital role in consumer-brand interactions, and account for billions of dollars in value.  Branded currencies issued on the DigitalBits blockchain will also be included within the Messari Registry.”

Additionally, Messari and the XDB Foundation “may explore the buildout of a novel registry to accommodate branded currencies tokenized on DigitalBits. This registry would address issues consumers face when determining the legitimacy of branded currencies and their respective organizations,” the announcement said today.  The goal is to provide a standardized framework for organizations leveraging branded currencies, certifying asset legitimacy, and clearly outlining characteristics including but not limited to asset issuance and organization identity.

Commenting on the news, Messari representatives said they recognize the potential for the use of branded currencies to grow in the future as more enterprises embrace blockchain technology. Ben O’Neill, Vice President, BD & Operations at Messari said the Registry will help all…

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