The Venezuelan extension of KFC is reportedly going to be accepting payments made with Dash cryptocurrency beginning this week, joining the growing number of fast-food chains that accept payments in crypto in Venezuela.
Fast-food chains like Subway and Papa John’s have been receiving payments in cryptocurrency. KFC will launch the program in its branch in Caracas the capital of Venezuela before expanding to its remaining 24 business locations in the country as reported by Forbes.
The co-founder of Dash Text and Dash Merchant Venezuela, Alejandro Echeverría, has been working with the fast-food chain for over three months to facilitate the widespread adoption of Dash within the South American nation. According to Echeverría Venezuela now has 2,445 merchants who accept payments in Dash.
Dash (DASH) Price Today – DASH / USD
The Dash Movement is Growing Massively
Echeverría in a statement said:
“The Dash movement is growing rapidly and is now widespread across the country. It started with food trucks, and then small family businesses started to adopt payments made in Dash. Now we are beginning to attract more established businesses.”
We can recall that CCN reported back in November that Echeverría launched Dash Text. Dash Text is an SMS format digital asset transaction service that does not need the Internet or a smartphone. This will be particularly useful in Venezuela considering the economic situation in the country where up to 60% of the entire populace don’t own a smartphone. Those who do have limited access to Internet service.
According to the international monetary fund, Venezuela’s annual inflation rate is going to rocket by 1,000,000% because the country’s oil production (which is the basic source wealth for the nation) continues to plunge.
Dash is Targeting 10,000 Merchants in the Country by 2019
Echeverria hopes that the digital currency will come up as one of the common means of making payment as well as a store of value. The Dash founder has huge ambitions for Dash next year. During which he hopes the token has 10,000 merchants who accept payments. In August, the price of Dash rose by 20% amid news of the growing adoption across Venezuela. Venezuelans favor Dash over Bitcoin (BTC) and other virtual currencies because of its faster transaction confirmation times.
Bitcoin’s transactions can take 10 minutes on the average; it can take at least one hour to peak periods. In contrast, for Dash transactions, an average of two-and-a-half minutes is enough. Thanks to a masternode network that allows the token to provide an Instant Send service.
Bitcoin Bucket Sold Out in Just One Hour
Bitcoin (BTC) proponents who enjoy fried chicken should not feel left out. In January, KFC’s Canadian extension launched the Bitcoin Bucket. This option allows customers to purchase a bucket of chicken using bitcoin. The package included waffle fries, 2 dips and 10 chicken tenders. It sold out in an hour just after launch. KFC made a joke about the marketing stunt via Twitter:
“KFC Canada presents Bitcoin Bucket. Sure, we do not know what Bitcoins are, or how they work, however, that should not come between you and some good fried chicken.”