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Author Topic: KFC Venezuela Accepts Dash Cryptocurrency, Joining Subway and Papa John’s  (Read 386 times)
cybersofts
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December 10, 2018, 03:06:02 PM
Merited by qwizzie (1)
 #1



KFC in Venezuela is accepting payments using the cryptocurrency Dash starting this week, joining a growing list of fast-food chains that accept crypto in Venezuela, including Subway and the Papa John’s pizza chain.

KFC will initially roll out the program at its store in the Venezuelan capital of Caracas before expanding to 24 other locations across the nation, Forbes reported.

Alejandro Echeverría, the co-founder of Dash Merchant Venezuela and Dash Text, has been working with KFC for the past three months to promote more widespread adoption of Dash in the socialist South American country.

Echeverria said there are already 2,445 merchants in Venezuela that accept Dash.


‘Dash Movement Is Growing Fast’
“The Dash movement is spreading and growing fast in Venezuela,” Echeverría said. “First it was food trucks and small family businesses that started to adopt Dash for payments. Now we’re attracting more established businesses.”

In November 2018, Echeverria launched Dash Text, an SMS-based cryptocurrency transaction service that doesn’t require a smartphone or the internet, as CCN reported.

This is particularly useful in poverty-stricken Venezuela, where 60% of the population don’t own a smartphone and have limited internet connectivity.

  - https://twitter.com/StayDashy/status/1071086992186896384

The organization Dash Merchant Venezuela is making a major push to advance cryptocurrency adoption in Venezuela because hyperinflation has devastated the near-worthless bolivar.

The International Monetary Fund projects that Venezuela’s annual inflation rate will soon rocket to a staggering 1,000,000%, as the country’s oil production continues to plunge.


Dash Aims For 10,000 Merchants In 2019
Dash Merchant’s Alejandro Echeverria hopes the cryptocurrency will emerge as a common means of payment and a store of value. Echeverría has huge ambitions for 2019, during which he hopes to have 10,000 merchants accept Dash payments.

In August 2018, the price of Dash spiked 20% amid news of growing adoption across Venezuela, as CCN reported. Venezuelans reportedly favor Dash over Bitcoin and other cryptocurrencies because of its relatively faster transaction confirmation times.

While Bitcoin transactions take an average of 10 minutes, it can take up to an hour during peak periods. In contrast, Dash transactions average two-and-a-half minutes, thanks to a masternode network which allows it to offer an Instant Send service.


KFC’s ‘Bitcoin Bucket’ Sold Out in One Hour

Bitcoiners who love fried chicken shouldn’t feel left out. KFC has been on the cryptocurrency bandwagon for some time.

In January 2018, KFC Canada launched the Bitcoin Bucket, which allowed customers to buy a bucket of chicken with bitcoin.

The Bitcoin Bucket, which included 10 chicken tenders, waffle fries, gravy, and two dips, sold out within an hour after it was made available.

KFC joked about the marketing stunt on Twitter: “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.”

   - https://twitter.com/kfc_canada/status/951550065411313664


Reference: https://www.ccn.com/kfc-venezuela-accepts-dash-cryptocurrency-joining-subway-and-papa-johns/

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December 11, 2018, 12:19:02 PM
 #2

I think countries like Venezuela are the perfect target for cryptocurrencies gaining acceptance. The citizens of these countries have first hand experience of how a FIAT currency can fail them and by now probably realize that their wealth is better protected in cryptocurrencies. I suspect that the merchants in these countries then convert any crypto they receive in to a more stable fiat such as USD.

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December 11, 2018, 12:34:11 PM
 #3

I think countries like Venezuela are the perfect target for cryptocurrencies gaining acceptance. The citizens of these countries have first hand experience of how a FIAT currency can fail them and by now probably realize that their wealth is better protected in cryptocurrencies. I suspect that the merchants in these countries then convert any crypto they receive in to a more stable fiat such as USD.


I doubt they would convert it to USD given their relationship with the US but this is a good news and as I was reading few days that in some US states you can pay your taxes in bitcoin which is a good sign and I hope that other countries follow their suit and begin accepting crypto in their retail as well as online stores.
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December 11, 2018, 12:41:19 PM
 #4

I think countries like Venezuela are the perfect target for cryptocurrencies gaining acceptance. The citizens of these countries have first hand experience of how a FIAT currency can fail them and by now probably realize that their wealth is better protected in cryptocurrencies. I suspect that the merchants in these countries then convert any crypto they receive in to a more stable fiat such as USD.


I doubt they would convert it to USD given their relationship with the US but this is a good news and as I was reading few days that in some US states you can pay your taxes in bitcoin which is a good sign and I hope that other countries follow their suit and begin accepting crypto in their retail as well as online stores.
They will convert it into the local currency since their operations are in canada and dollar would not become the main choose to convert their crypto instantly. You should remember if this world is not owned by SEC

 
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December 11, 2018, 02:41:23 PM
 #5

As far as I know Venezuela has its own cryptocurrency. I am not surprised that KFC accepts Dahs cryptocurrencies as it is always known for the speed of transaction processing.

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December 11, 2018, 03:10:58 PM
 #6

As far as I know Venezuela has its own cryptocurrency. I am not surprised that KFC accepts Dahs cryptocurrencies as it is always known for the speed of transaction processing.

Yes, they have their own cryptocurrency, and it is called Petro.
compared to Dash, Petro is not good enough to get used as a form of payment that was why they used Dash as their form of payment.
it has an instant transaction speed and more stable compared to Petro itself.
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December 11, 2018, 03:51:02 PM
 #7

Dash going strong I hope that more and more crypto would get accepted by other company.
Crypto is being accepted little by little I hope that it would continue and in the future everything could be paid with crypto.

 
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December 11, 2018, 04:56:13 PM
 #8

Maybe this is the beginning of the rise of crypto currency in the world, hopefully after another Dash will soon follow and make the crypto currency return to the glory that has been achieved in 2017, and maybe next is Ethereum
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December 11, 2018, 06:38:32 PM
 #9

Crytocurrency acceptance as payments is a good indication for increasing the crypto community and its widespread adoption. Crypto and Blockchain projects having real world applications, is what we need.
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December 11, 2018, 07:46:19 PM
 #10

this is really a good news and through this we can see that crypto is on the rise. i do not understand why the prices do not rise with such good news. but anyway, this news again gives me hope that crypto are not dying.
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December 11, 2018, 08:10:23 PM
 #11

Dash going strong I hope that more and more crypto would get accepted by other company.
Crypto is being accepted little by little I hope that it would continue and in the future everything could be paid with crypto.
This is the best time to buy some Dash  Grin Good thing that those big merchants already considering crypto to be included on payment options.
Hopefully that would'nt be temporary once they faced up some loss or negative profits when crypto fluctuates.If they do already accepted it then they
do definitely aware on it but hopefully they would sustain.Waiting up for KFC on my place to accept too.


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December 12, 2018, 09:13:05 AM
 #12

The team and the Dash community, despite the general disadvantage in the crypto market, continues to expand the use of Dash, which will positively affect the popularity and value of Dash coins. Now is a good time for all promising projects to mobilize resources and develop their projects. When the market goes up, these projects will have an advantage over those projects that just waited for the market to fall.
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December 12, 2018, 09:30:25 AM
 #13

The team and the Dash community, despite the general disadvantage in the crypto market, continues to expand the use of Dash, which will positively affect the popularity and value of Dash coins. Now is a good time for all promising projects to mobilize resources and develop their projects. When the market goes up, these projects will have an advantage over those projects that just waited for the market to fall.

Even though Dash did a good job when the market is on the declined right now, but we must know the fact that they have a lot of coins in their pocket just like XRP. So, even if they are integrating their blockchain in more stores in Venezuela, they won't and can't push the price up.
because we are on the decline right now and peoples are afraid they would dump it once the price is up unless they are pushing the price up just like before when it moved up for more than 200%.

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December 12, 2018, 10:11:08 AM
 #14

That's good news in Venezuela KFC accepted Dash as a payment, looks like it's good to invest Dash in the next year because they aims 10,000 merchants in 2019.

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December 12, 2018, 03:05:33 PM
 #15

Next waiting for Africa when will start to accept BTC. Venezuela suffers from a financial crisis and mad inflation, so I hope they can win with the crypto world. 

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December 12, 2018, 03:14:34 PM
 #16

I don't know how long they can keep this payment method using Dash but I can ensure that using cryptocurrency as payment will help economy in Venezuela become much better than before. Maybe this terrible country will become the first country which accept cryptocurrency as payment.
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December 12, 2018, 05:12:26 PM
 #17

It's also interesting if Dash is a payment tool, so the community will grow and get stronger. Venezuela will generate its economy with crypto, and this will be a Dash hunt that may be out of control.

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December 12, 2018, 10:11:38 PM
Last edit: December 13, 2018, 11:18:56 AM by Raja_MBZ
 #18

I personally don't like the way we're celebrating this news - this is actually the total collapse of a centralized form of government. Mr. Nicolas Maduro completely ruined Venezuela. Bad governance and a "hell of corruption" is all that he gave in return to the people who voted for him. KFC (and many other outlets) no longer want to accept a currency that is "too difficult to handle" and "too volatile to keep up with" (I'm not talking about DASH/crypto here, I'm talking about their stupid fiat known as Venezuelan Bolivar).

Oh well, I feel really sorry for Venezuelan people.

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December 12, 2018, 10:35:27 PM
 #19

This is weird, I thought the most used cryptocurrency in Venezuela was Bitcoin since the trading volume has been going up over the last few months in that country, I think this is just a PR move by the Dash marketing team, that's the only way I could understand why KFC would accept to use Dash in the first place when there are way better options in the market.

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rodskee
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December 12, 2018, 10:57:00 PM
 #20

It is a great news for us this news sign that bitcoin not going to zero
Hope the result of this news kfc accepting again crypto in venezula will can help for the crypto stablities
And congrats for the daah team for this incoming growing demands because of this tie up in food chain

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