Dash [DASH] launches new system of money transfer in Zimbabwe

Dash [DASH], one of the prominent digital currencies in the domain of crypto market is seeking to empower the crumbled Zimbabwean economy. Dash [DASH] is powered by its advanced and efficient blockchain technology. In this endeavour to revamp the financial system of Zimbabwe, Dash [DASH] leverages its blockchain potential. According to a recent report by BCFocus, Dash [DASH] is preparing itself to launch Copay wallet based on iOS and Android.

Zimbabwe experienced the stings of hyperinflation for a period of six years starting from 2003 to 2009. The year which saw the invention of Bitcoin [BTC] also witnessed the suspension of the native currency of Zimbabwe. Eventually, it turned into a land of multiple currency which extensively suffered from the dearth of cash and poor development of infrastructure. Encountering constant challenges like corruption, swelling population and poverty all over, Zimbabwe currently strives and struggles to become stable, financially.

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2014 marked the launch of Dash [DASH] or “Digital Cash”, a bifurcated segment of Bitcoin [BTC]. The Dash [DASH] platform is characterised by the feature of “instant send”. This feature facilitates transaction within seconds at a minimal cost of few cents. At present, Dash [DASH] gives impetus to the Zimbabwean economic infrastructure by introducing new and upgraded system of money transfer. This new transfer system is known as the Kuvacash.

The Opinions

Under this new system, money can be transferred with the help of a mobile number. It does not involve participation of a bank in this peer-to-peer system. A common view in the Zimbabwean banks is the presence of a long queue. Andreiko Kerdemelidis, KUvacash co-founder states, “Everyone from the street trader through to the expat sending funds back to their family should find Kuvacash a convenient way to make or receive their day-to-day payments. With our agent network, we also provide the ability for people to easily switch in and out of USD cash at any time, without having to wait in queues or use a bank.”

See also: Dash [DASH] crypto organisation introduces blockchain to Academia

Ryan Taylor, the Dash [DASH] Core CEO has come up with the opinion, “Despite its volatility, cryptocurrency offers a stable alternative for people residing in hyperinflation economies.” Taylor further comments, “Zimbabwe’s challenges stem from both a distrust of the financial system and a lack of access to physical cash needed to facilitate transactions.”

Kuvacash of Dash [DASH] has become the subject matter of a documentary that is released, recently. The documentary is titled as 'Starting from Scratch' under the production team of Frame 48. Zimbabwe is looking forward to receive its first loan from the International Monetary Fund in a span of almost two decades.

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