DASH and Fried Chicken: A Match Made in Venezuela

The announcement was made public over Twitter:

🚨 @ForbesCrypto Exclusive! – Starting next week, #KFC 🐔🍗 in #Venezuela 🇻🇪 will begin accepting @Dashpay payments, adding to the number of food outlets such as #subway & @PapaJohns 🍕 that are taking #Dash for payment!#Cryptocurreny #FinTechhttps://t.co/B6ULbE50kv

— Mark Mason (@StayDashy) December 7, 2018

The announcement adds to the already expanding DASH network in the country, where the digital payment form is accepted by Papa John’s, Subway and others.

Ups and Downs in Caracas

As the nation has continued on its downward spiral into hyperinflation, Venezuelan president Nicolas Maduro has sought to stem the financial crisis by creating the first nationally asset-backed token, the Petro. Because of the massive devaluation of the national currency, cryptocurrencies like Bitcoin, which are not connected to government manipulation, have exploded in popularity. However, even with the potential for a more stable token for transactions, the risks are still great. Maduro has not made a reputation for acting in good faith globally, and the risks for loss are great. Amidst all the financial chaos, the country’s desire for stable and decentralized payment platforms has led to a rise in vendors willing to accept cryptocurrencies. Bitcoin, Ethereum, and others like Dash are all growing in popularity, as some have called it the rise of a ‘Bitcoin state.’

Dash Price Changes

Dash has experienced the same cryptocurrency downturn as its larger counterparts, dropping from highs over $1,550 in early 2018, to just over $69 at press time. While the shift in price is massive, the growth in adoption could indicate sustainability for the coin. Think adoption news shows that DASH is a candidate to survive the ‘crypto winter?’ Let us know in the comments below!