There is no doubt that Venezuela is now the dock yard of Dash (DASH) Cryptocurrency, as the altcoin seems to be thriving exceedingly in the country beyond imagination. While Venezuela’s economy seems to be facing lasting crises which resulted in an all-round inflation, residence of the country and the government has found Cryptocurrency has a perfection option as the value of their native fiat currency depreciates beyond imagination.
Despite the fact that the Venezuelan government created an official national Cryptocurrency, Petro, for transaction and storage of wealth in the country, Dash’s use and adoption in the country has been rated above any Cryptocurrency in existence, including Petro and crypto don Bitcoin.
As the altcoin continues to maintain its reign in the country, a news yesterday arose that Dash (DASH) has been adopted by more 2000 merchants in Venezuela.
The International Outreach Coordinator Director of PR and the Media & Webmaster at Dash, Mark Mason disclosed the news on his twitter page while talking about how crypto gladiator, Max Keiser flagged Dash as a blockchain project that is helping people who need Cryptocurrency around the world.
Due to the failure of the Venezuelan government to cover a widening budget shortfall by printing money, the International Monetary Fund (IMF) on Tuesday, October 9 estimated that by the end of the year, the inflation rate in the country Venezuela would have risen to 1.37 million percent.
IMF World Economic Outlook had previously in January and July forecasted that the inflation would rise to 13,000 percent and 1 million percent by the end of the year.
The founder of Dash Help Support Center in Venezuela, Alejandroe posited that Dash is witnessing mass adoption in the country due to the ongoing hyperinflation.
“Mostly hyperinflation and the lost of confidence in our financial system which includes: bolivar, POS networks, lack of cash. Dash represents a perfect solution to become a way better/reliable payment method and a store of value for Venezuelans,” Alejandroe noted.
