Cryptocurrencies are designed to be used as a payment method first and foremost. Most top cryptocurrencies have lost track of the bigger picture in this regard. Dash, a privacy-oriented coin, aims to make a big splash in this regard. Their infrastructure has evolved in such a way it caters to merchants all over the world.
The Future of Dash
Unlike Bitcoin and Ethereum, Dash is not content with being a speculative cryptocurrency. Instead, it is designed to be a payment currency first and foremost. Opinions among financial experts differ greatly when it comes to using cryptocurrencies for payments. Most financial experts don’t see a bright future ahead in this regard. It is up to individual coin developers to ensure the outcome is very different.
Ensuring that Dash can become a payment method requires key features. It needs to be fast, secure, and intermix with cash or payment cards. The first two aspects can be solved by most other cryptocurrencies on the market today. Interoperability with existing payment infrastructure, however, is a different matter altogether. In the case of Dash, offering a viable alternative appears to be the best course of action.
It is evident that all cryptocurrencies will face challenges in this regard. For Dash, its instant transactions make it a lot more appealing to merchants. Combined with low fees and a higher network availability, the altcoin seems to offer a worthwhile alternative.
Looking Beyond Traditional Industries
For Dash, the main order of business is gaining initial traction. To do so, its team is looking beyond the traditional markets and merchants. The cannabis industry, for example, can benefit tremendously from the cryptocurrency payment industry. It offers a viable way of conducting business on a global scale without the hassle and delay of dealing with banks.
In the case of cannabis dispensaries, accepting card payments is virtually impossible. This creates new business opportunities for any cryptocurrency targeting the payment industry. Dash is working with Alt Thirty Six, among other companies, in this regard. Additionally, the team is gaining traction among high-risk markets such as casinos and gaming.
On an international level, Dash is making inroads in Ukraine and Venezuela. This latter country is an interesting addition. Venezuela is struggling financially, and the demand for alternative payment methods has grown significantly. The future of cryptocurrency looks very bright, although one has to look beyond Bitcoin and Ethereum to see its full potential.
What do you think? Does Dash have the potential to transition to a viable payment currency? Let us know in the comments below.
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