By KFC in Venezuela is the latest fast-food franchise to begin accepting payments using the Dash cryptocurrency. Starting this week, the franchise joins a growing list of fast-food chains which accept crypto in the South American nation of Venezuela, which includes sandwich kings, Subway as well as pizza franchise Papa John’s.
KFC plans to initially roll out this program at its branch in the Venezuelan capital of Caracas before a planned expansion of up to 24 other locations across the nation as reported by Forbes at the time of press.
Co-founder of Dash Merchant Venezuela and Dash Text, Alejandro Echeverría has been working closely with KFC for the last several months in an effort to promote widespread adoption of the Dash token in the socialist South American nation.
Echeverria claims that there are already as many as 2,445 merchants in Venezuela which accept the digital token.
Dash Is Growing With Record Speeds:
“The Dash movement is spreading and growing fast in Venezuela, first it was food trucks and small family businesses that started to adopt Dash for payments. Now we’re attracting more established businesses,” Echeverría said.
Earlier, this year in November 2018 Echeverria launched Dash Text, which is an SMS-based cryptocurrency transaction service which does not require a smartphone or even an internet-connected mobile device in order to conduct crypto transactions.
This is a particularly smart & useful move in a poverty-laden nation such as Venezuela, where around 60% of the nation’s population do not own a smartphone or connection to the internet.
Furthermore, Dash Merchant Venezuela is making massive pushes in order to advance crypto adoption in the South American nation as hyperinflation has completely obliterated the country’s fiat currency – the now, almost worthless bolivar.
In fact, The International Monetary Fund has predicted that Venezuela’s annual inflation rate soon reach a whopping 1,000,000% as the nation’s oil production continues to suffer & plunge into oblivion.
Dash Aiming To Have Up To 10,000 Merchants Next Year:
Alejandro Echeverria hopes that Dash will emerge as the new, common means of payment and store of value and has massive ambition for next year as he hopes to reach around 10 000 merchants who accept the token as a means of payment.
Earlier this year in August 2018, the price of Dash blew up by 20% as a result of news surrounding it’s rapidly growing adoption in across Venezuela. It’s been noted that citizens in the country opt for Dash over Bitcoin due to it’s relatively speedier transaction confirmation times.
Bitcoin generally has an average transaction time of 10 minutes and can take as long as an hour during peak traffic periods while Dash transactions boast an average of two and a half minutes per transaction, in part, thanks to their masternode network which enables it to offer an Instant Send service.
KFC Canada’s Bitcoin Bucket Sells Out In A Hour:
Avid fans of Bitcoin who also love digging into some fried chicken should in no way feel left out as KFC has indeed been a part of the crypto hype-train for some time already.
Earlier this year in January 2018, KFC Canada launched their Bitcoin Bucket which quite simply allowed hungry customers to purchase a bucket of chicken with the digital currency.
The Bitcoin Bucket included 10 chicken pieces, waffle fries, gravy, two different kinds of delicious dips and sold out within the first hour that it was made available to purchase.
KFC took to Twitter to joke about their genius marketing ploy, tweeting:
“KFC Canada presents the Bitcoin Bucket. Sure, we don’t know exactly what Bitcoins are, or how they work, but that shouldn’t come between you and some finger-lickin’ good chicken.”
With fast-food franchises beginning to accept to cryptocurrency as payment, the future looks bright for widespread adoption, but does this actually mean we might see franchises in stable economies doing the same? Let us know your thoughts.
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