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Dash Could Cater to 1 Million Users in Venezuela by Year's End

Zain Raza by Zain Raza - 09:05 AM Jan 27, 2020
Dash Could Cater to 1 Million Users in Venezuela by Year's End

According to a recent update from one of Dash blockchain's PR representative, the number of active users in Venezuela has sky-rocketed by 562% since May, and a sublime 29% rise occurred just in December.

Mark Mason, a PR representative at Dash went further and stated that this number is derived just by taking the active users in consideration, not the ones who just installed and have not used the wallet even once in the last 30 days. If the current growth rates do not decline sharply, chances are quite high that Dash will cross the 1 million mark before the year ends.

The gust of wind which apparently caused this exponential growth is the dire need of a transactional currency. The country is withering the storm of hyperinflation on a level that has made the current currency worthless, and dash, obtrusive.

In a precarious situation like this, the Bolivar, the national fiat of Venezuela has turned into a laughing stock. Buying a gallon of milk could cost you a fortune. The people want to obliterate these obstacles and have found comfort in omnipresent Digital currency Dash. The digital currency offers more stable transactions which have turned it into a firm favourite, and even bitcoin is in the mix.

Dash Growing Despite Drastic Measures Taken by President 

Venezuelan President Nicolas Maduro released a national own digital currency called the Petro(PTR) to tackle the issue of the falling value of national fiat and people turning to alternate forms of digital currencies. The local aeroplanes were ordered to make their fuel sales through it, and the pensioners and government employers were given a share of half a PTR.

Regardless, the local people have turned a blind eye towards it as they’re unable to trust the Petro, primarily because it is similar to Bolivar as it is still under the authority of government. People are seeking comfort in Dash and Bitcoin as it is free from any government control. Governments can manipulate the currency by their own whims and fancies, but the peculiar nature of digital currencies, who rely on a network consensus, are much harder to manipulate.

About The Author
Zain Raza

Zain RazaZain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

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