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Venezuela: A Crypto Case Study
This isn’t the first time, and neither will it be the last time that Venezuela is associated with an economy in which crypto can play a very relevant role.
After the failure of its national currency and the difficulties to get American dollars, cryptocurrencies have seen a huge increase in popularity in the Venezuelan society since they are now considered a popular payment method and feasible way to store the value of their wealth.
The Venezuelan society has taken a step forward in spreading the word and adopting cryptocurrencies in their daily routines. Associations like Asonacrip (Cryptocurrencies National Association) are constantly putting all their efforts in trying to legalize and promote the use of blockchain at a Latin American level.
Dash is one of the cryptocurrencies that is gaining more adopters amongst the Venezuelan population. Lately, it has been accepted as a payment method in one of the largest department store chains in the country, Traki. To put things into perspective, they are often described as the Venezuelan Wal-Mart. Along with Dash, other cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum and Litecoin have also been adopted to be used in everyday commerces
Dash is currently being accepted in more than 2300 commerces throughout the country and this number is rapidly increasing. This…
