KFC in Venezuela accepts Dash cryptocurrency payments. Innovation has been introduced since the beginning of this week. KFC has officially joined the growing list of fast food chains that accept cryptocurrency in Venezuela, including Subway and the Papa John pizza, as was reported in Forbes.
According to Forbes, KFC will first launch a program in Caracas, the capital of Venezuela, and then intend to expand it to 24 other locations throughout the country. Alejandro Echeverría, co-founder of Dash Merchant Venezuela and Dash Text, has been working with KFC for the past three months. His work aims to promote the wider dissemination of Dash crypto-coin in the South American country.
The introduction of Dash cryptocurrency in the Venezuelan economy
According to A. Echeverria, there are already 2445 outlets in Venezuela that accept Dash.
"The Dash movement is spreading and growing rapidly in Venezuela (...) At first it was food trucks and small family businesses that began to accept Dash for payments. Now we attract more reputable enterprises" – Alejandro Echeverría.
Recall that in November 2018, thanks to A. Echeverria, Dash Text was launched – an SMS-based cryptocurrency transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details service, which does not require a smartphone or the Internet. This was especially useful in poor Venezuela, where 60% of the population do not have smartphones and have a limited Internet connection.
The Dash Merchant Venezuela organization makes a serious push for the promotion of cryptocurrency in Venezuela because hyperinflation has exhausted the national currency – the Venezuelan bolivar.
As is known, the International Monetary Fund predicts that the annual rate of inflation in Venezuela will soon rise to a staggering 1,000,000%. At the same time, oil production in the country continues to depreciate. The fact that the Venezuelan KFC has begun to accept the calculation of the Dash cryptocurrency is another evidence of the hope of local authorities to even out the economic situation in the country.
Editor: Yuliya Soroka