Signs an agreement with AnkerPay, a South African cryptocurrency and crypto payments company. Dash continues its global plan to expand where there is potential for adoption due to the precarious situation of the local economy. Is Africa the new Eden of Dash?
AnkerPay will integrate Dash’s InstantSend system into its growth network of ATMs in South Africa and other African countries.
The idea is to penetrate the sub-Saharan market in Africa. These countries may not seem like a lot of capital at first glance, but they are countries with a high number of immigrants, and some countries also have great banking difficulties. The Dash Core Group’s CEO explains this in a statement:
This is a big step for Dash. Through the partnership with AnkerPay, Dash is provided with a ready-to-use, scalable ecosystem to expand our presence in South Africa and shortly thereafter in sub-Saharan Africa. […] Their solution makes it easier for dealers to accept Dash while reserving the option to receive the Fiat. Dash has held up well in complex markets where our technology and strategies help solve payment and transfer issues
Dash is one of the cryptocurrencies that has mastered the reading of the markets and has clearly relied on the actual introduction of cryptocurrencies. Such asGradually, it has become a financial instrument or a safe haven. Dash has chosen to continue using its cryptocurrency to succeed.
Hyperinflation countries the clear goal of the dash team
Dash has been very successful in countries where the local currency has been irresponsibly manipulated by its governments and ended with either hyperinflation or a weak national currency. As BeInCrypto reported, one example would be Venezuela, where Dash could have one million active users by the end of 2020.
To understand the severity of the crisis in the local currency, a liter of milk would cost so many bolivars that you would have to carry a wheelbarrow full of bills to pay for it. This allows citizens to look for alternatives like Bitcoin or Dash. Like Dash, Bitcoin has had great results in this country, setting historic P2P exchange records from Bolivar to Bitcoin.
For this reason, Dash Core is ambitious and plans to expand its activities in Nigeria, the “Silicon Valley” of Africa. The country is suffering from very high inflation, a very suitable breeding ground for a cryptocurrency like Dash. Another African country known for its hyperinflation is Zimbabwe with its famous and ridiculous $ 50 billion bills.
Banking the Unbanked with Dash
Bitcoin and cryptocurrencies have multiple use cases, but most stand out in countries where the national currency has been continually violated by their governments or where there is no way to have a bank account. This affects Africa, Southeast Asia and some Latin American countries.
According to a World Bank report 118 million people in Nigeria do not have a bank account. For this reason, due to the low bank penetration of the population, there is great interest in a market launch in Africa. Cryptocurrencies are the perfect technology because they are government-independent and offer rock-bottom prices.
Africa, like many other developing countries, has made a technological leap. The population will not have their own computers, but the arrival of the smartphone in Africa has been a boom. According to the latest We Are Social report, the 81% of the population have access to a mobile phone.
In addition, it doesn’t help that some banks in these countries have had cases where some bank accounts have been closed due to their relationship with cryptocurrencies.
Dash continues its strategy of finding the real need and use of Dash for its prosperity. If it has the same success as Venezuela, the cryptocurrency could see a price surge as demand increases.
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