KFC in Venezuela is accepting payments using the cryptocurrency Dash starting this week, joining a growing list of fast-food binds that accept crypto in Venezuela, including Subway and the Papa John’s pizza chain.
KFC will initially split out the program at its store in the Venezuelan capital of Caracas before expanding to 24 other locations across the nation, Forbes announced.
Alejandro Echeverría, the co-founder of Dash Merchant Venezuela and Dash Text, has been working with KFC for the past three months to push more widespread adoption of Dash in the socialist South American country.
Echeverria said there are already 2,445 industrialists in Venezuela that accept Dash.
‘Dash Movement Is Growing Fast’
“The Dash movement is spreading and growing wildly in Venezuela,” Echeverría said. “First it was food trucks and small family businesses that started to adopt Ruin for payments. Now we’re attracting more established businesses.”
In November 2018, Echeverria launched Dash Text, an SMS-based cryptocurrency proceeding 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 populace don’t own a smartphone and have limited internet connectivity.
Major News! #KFC?? is joining 2440 #Dash accepting merchants in #Venezuela ?? @Dashpay extends to lead from the front as the leading #Cryptocurrency for payments & e-commerce! Instant, secure & user friendly $Dash is digital realize, everyday payments made easy! ??? pic.twitter.com/XrR1guPeyh
— Mark Mason (@StayDashy) December 7, 2018
The organization Flair Merchant Venezuela is making a major push to advance cryptocurrency adoption in Venezuela because hyperinflation has devastated the near-worthless bolivar.
The Intercontinental Monetary Fund projects that Venezuela’s annual inflation rate will soon rocket to a staggering 1,000,000%, as the outback’s oil production continues to plunge.
Dash Aims For 10,000 Merchants In 2019
Dash Merchant’s Alejandro Echeverria hopes the cryptocurrency resolution emerge as a common means of payment and a store of value. Echeverría has huge ambitions for 2019, during which he look forward ti to have 10,000 merchants accept Dash payments.
In August 2018, the price of Dash spiked 20% into the middle news of growing adoption across Venezuela, as CCN reported. Venezuelans reportedly favor Dash over Bitcoin and other cryptocurrencies because of its to some degree faster transaction confirmation times.
While Bitcoin transactions take an average of 10 minutes, it can take up to an hour during crown periods. In contrast, Dash transactions average two-and-a-half minutes, thanks to a masternode network which allows it to offering an Instant Send service.
KFC’s ‘Bitcoin Bucket’ Sold Out in One Hour
Bitcoiners who love fried chicken shouldn’t see left out. KFC has been on the cryptocurrency bandwagon for some time.
In January 2018, KFC Canada launched the Bitcoin Bucket, which allowed buyers to buy a bucket of chicken with bitcoin.
The Bitcoin Bucket, which included 10 chicken tenders, waffle fries, gravy, and two dunks, sold out within an hour after it was made available.
KFC joked about the marketing stunt on Twitter: “KFC Canada contributions 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 point to lickin’ good chicken.”
KFC Canada presents The #Bitcoin Bucket. Sure, we don’t know exactly what Bitcoins are, or how they write up, but that shouldn’t come between you and some finger lickin’ good chicken. https://t.co/2OKuCHk5Hb pic.twitter.com/UwaduB8toi
— KFC Canada (@kfc_canada) January 11, 2018
Hallmarked Image from Shutterstock
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