As many already know, the Venezuelan currency is in really bad shape. Since 2013 the currency value has dropped as much as 50% a year.
I couldn't find a more updated chart on the price
Crypto has become a more popular form of currency in Venezuela since the Bolivar's decline. If cryptocurrency have any chance to become mainstream, Venezuela is leading that charge.
Burger King is partnered with Cryptobuyer to allow Venezuelans to pay in crypto. From what I can see Bitcoin, Ethereum, Dash, Litecoin are supported. I also noticed the Binance symbol in the video but I can't recognize the other symbol.
See it in action (Instagram Video)
“The growth of Cryptobuyer in South America, especially in Venezuela, is another example of how this region is ahead of the curve in adopting cryptocurrency as a real method of payment. Venezuela presents a mix of circumstances that make it a perfect place to deploy real-world cryptocurrency solutions – hyperinflation, cash shortages, deteriorated banking and communication infrastructure. Such factors, in conjunction with the government’s initiative to use cryptocurrency as a payment method, will push use and adoption of these cutting-edge technologies, and we are really proud to lead this push.” Dash has a post on their blog talking about the partnership. We need to get Steem listed on Cryptobuyer. I am going to reach out to them to see if we can make that happen, I will also pass this along to anyone I think can help.' Having Steem supported would be a big win for both Steem and the Venezuelan community on and off Steem.
Jorge Farias - Cryptobuyer CEO
How do we get Steem involved?
It is actually a DASH exclusive launch.
Dash Core CEO on Twitter:
"Dash is the preferred crypto in Venezuela given it instantly settles and transaction fees are low. That is why it’s widely accepted. Beside Bitcoin, the others see limited use in the country, but Cryptobuyer supports them on their platform so they will all eventually be added."
They already support the ones I mentioned above and also I believe Tether.
I wonder if the burger is still warm after all the confirmations. :)
Dash is the most popular currency on Cryptobuyer. With Instasend, it's only 2 seconds.
https://dashnews.org/cryptobuyer-ceo-says-dash-was-platforms-top-coin-last-three-months-in-a-row/
nice. Hopefully Steem can get a listing there.
What are your thoughts on Dash compared to BTC? Would you say it's the better currency?
I am not a good one to ask, I know nothing of Dash.
All the more case for steem
haha good one, I think they should consider more faster options such as NANO, IOTA and other feeless cryptos.
Like steem perhaps ;P
Hey @themarkymark greetings from Venezuela... As you well explained in your article, Venezuelan are struggling to protect their income and savings from the Inclement hyperinflation, and the cryptos is one of the ways that people are doing to protect it, but also an easy way to buy goods through internet that we don’t have in my country and we have to import ( food, clothes, cars parts, medicine, etc). I also see the Steem platform that has a potential opportunity to be used in Venezuela. I know that a Lots of Venezuelan tried to use this platform to try to increase their income or by goods through internet myself included. As a Mechanical Engineer with 13 year of experience in the Refinering Industries I was pushed by the current system to find other ways to meet ends meet.
I'm glad to hear that Bitcoin, Ethereum, Dash, Litecoin will be a focus over there since I have investments in all of those.
As for STEEM why don't we put a proposal up on the DAO that won't get funded to bring awareness?
If someone can come up with a good marketing plan sure, if they require a fee to be listed that's another option as well.
It is clearly an extra-strategy to motivate consumers to eat in their fast food chain.
I live in Venezuela and in the area where I live there are two stores and both are closed, due to the low purchasing power of the Venezuelan.
The premises that are accepted cryptocurrencies are located in the most exclusive areas of Venezuela.
by the way I drew a watercolor 5 days ago motivated to this theme.
i think dash is the best
Check out the @rutablockchain Steem Merchants project that is already running in Venezuela.
Thanks gigantic corporation for the "food"! Is this not taking advantage of the poor ?
It is actually helping them as their currency is extremely unstable to the point if they buy something tomorrow instead of today they actually get less.
great helping the poor by feeding them rubbish, nice guys at burger king
Great helping the poor
By feeding them rubbish, nice
Guys at burger king
- disorderbadger
I'm a bot. I detect haiku.
Umm, Ok man. Cools story.
Thanks for the encouraging news. I visited the cryptobuyer website to try and figure out how they onboard coins, but so far I am unsure, so I will send them a few emails and try my luck. I think it’s a good idea to consider contacting them and the people I know in the Venezuelan communities here on Steem to see if anyone there is following this development and has any ideas about how to Steem to their coin selection. I think because Steem is cheaper and has no transaction fees it might be more useful then more expensive coins.
That is awesome for adoption!!! I guess I won’t be that excited when Burger King becomes so rich From crypto gains that they start to take over the whole country though.
Sounds delicious... ;-)
So cool!
The question is how long will it takes for them to process the transaction before they get their orders? 🤔
They claim Dash is used most and it has an "InstantSend" feature which is as quick as two seconds.
But steem could me more appealing if they accept due to 3 seconds transaction time and no fees and the best part is that they can even post here about their events and new recipes and ask for the reviews. No other cryptocurrency has this advantage. No domain registration and hosting, they just create an account here and done. But one thing I suspect they will ask for the identity verification feature which we don't have here if they wanna promote and market their stuffs.
InstantSend in dash is two seconds and dash is what is used most on Cryptobuyer
How crazy! I didn’t think so, greetings. =D
Muy buena iniciativa , y más ahora que en nuestro país nos estamos adentrando en el mundo de las crpto monedas, esperemos en los próximos días admitan el petro también ..
Please follow me
That's very interesting! Including Cryptocurrencies in Venezuela's market is a big step. I know that DASH is accepted in many stores right now
Hey Marky, I had the same idea and I'm trying to talk to the cryptobuyer people to propose this. Can I keep you informed if they offer me a deal? I understand they are from Panama, so communicating with them is much easier (since we speak Spanish)
Sure thing, I got a couple of contacts that know them I’m going to reach out to.
@themarkymark=@buildawhale, comment farmer, shame on u. downvoted.
Should Steemit not be a little bit more #conscious ?
You are what you eat, and maybe you also become what you invest in...
A bit desperate @themarkymark in my eyes, thinking about Warren Buffet (Coca Cola) , who was going straight against crypto.
A bit hypocritical, isn't it...
Greetings
Huh
Kinda sad that it came to that.
Their currency is worthless, hope all of us won't have to go through a catastrophe to move to bitcoin.
isn't the purpose of steem so that physical currency becomes obsolete ?
Good news for every crypto lovers. Thanks.
It is not only BTC there are more coins (Dash, LTC, BNB etc.,) that Burger king is accepting:
I know. I said so in the post. You read it?
Yes, I did read that and it was mentioned the other symbol in the video was not recognized thus, I just sent the complete image that is displayed in the burger stalls. The missing one is USDT.
Thanks. In the video it had some number sign over tether as well, almost like it was crossed off.
Let them know how big the Venezuelan community is here.
https://trends.google.com/trends/explore?q=steemit
For sure. This could be a big win, especially if they move into other markets with it.
https://steemit.com/steem/@abh12345/2jhorr-steem-account-holders-have-transferred-over-usd300-000-to-one-venezuelan-exchange-since-it-opened-at-the-beginning-of-2018
Might be of use?
https://trends.google.com/trends/explore?date=today%205-y&q=steemit
the 5 year timeline shows it better.