- December 10, 2018
- Posted by: Jay
- Category: Blockchain, Cryptocurrency
Cryptocurrency can play a significant role in failing economies. Above all, cryptocurrency is an escape valve that can be used to maintain personal wealth. Therefore, when your national economy is failing and fiat currency is losing value invest in crypto. Ask the citizens of Venezuela, Greece and Turkey.
What we want is cryptocurrency to evolve into payment for everyday items. Kentucky Fried Chicken (KFC) has taken a big step towards that vision in Venezuela. It is reported on Altcoin Buzz that KFC is in negotiations with Dash to accept Dash as a form of payment.
Venezuela is a country with huge economic issues affecting its population by way of food shortages, medicine shortages, worker strikes and rising crime. Its economy continues to spiral out of control, and those that have the ability to leave are fleeing the country.
Dash, which is a privacy coin, strives to be the PayPal of cryptocurrency. Their effort persists to assist Venezuela by getting major businesses to adopt the payment method. They have seen Venezuela become the No. 2 market of wallet downloads, ahead of China and Russia.
If this partnership works well for KFC, we can be optimistic that KFC will look to adopt cryptocurrency as a form of payment in the market where they are the most popular fast food chain, China. After that, perhaps the United States will see businesses adopt.
Let partnerships like this stand as evidence. A major US corporation, KFC, recognizes cryptocurrency as a viable payment method because it’s good business. Another example, American Express is exploring the use of Ripple for financial transactions. Cryptocurrency will continue to be adopted. Don’t believe the FUD.