Sending cryptocurrency via text message

in #hive-18057125 days ago

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”When a technology is developed that fulfills an important need and is so easy to use that people adapts to people can use it without learning anything new, mass adoption will occur silently but assuredly.”
@shortsegments

How does it work?
This technology allows people to send cryptocurrency to each other using cell phone text messages. The technology allows you to use the person’s phone number as their public wallet address, as long as you both have asked your cellphone service providerS to set up a text message cryptocurrency wallet called a SMS Text Wallet. Once you both have a SMS text wallet for the same cryptocurrency, you can also text cryptocurrency to other people who have signed up with that same SMS Text wallet provider.

Special Advantages for Countries with unreliable electrical or internet service, or expensive internet service
Sending cryptocurrency via text messaging doesn’t require internet service. This means you don’t need the internet, only a cellular signal for the transaction. This means that the electrical power goes off you can still buy stuff with your cryptocurrency. If you can still use your mobile phone, then you can still send and receive cryptocurrency.

The Important role of the SMS Text wallet Service Provider
The SMS text wallet provider matches your cell phone number to your actual internet based cryptocurrency wallet. The SMS Text Wallet service provider accesses the internet to access the actual cryptocurrency wallets, confirm balances and insure all transactions are recorded on the blockchain. You can request balance and transaction information from your cellular service provider via text also.

Value of this technology
First: It is estimated that over 2 billions of people have no access to the internet, a smart phones, a desktops computers or a laptop computers. So for these 2 billion people, this is their access to cryptocurrency. But they don’t know it yet because it’s new.

Second: when Dash first launched this service in North and South America they signed up thousands of customers in the USA who had access to the internet, but before this technology allowed them to send and receive cryptocurrency via text messaging they thought cryptocurrency was to complicated to use. They knew how to text, so they didn’t need to learn any new skills. All the complicated aspects were handled by their cellular service provider.

The moral of the story: ”When a technology is developed that fulfills an important need and is so easy to use that people adapts to people can use it without learning anything new, mass adoption will occur silently but assuredly.”

That’s my Short Report on this technology, if you wish to read more about the actual simplicity of the wallet set-up, read the material below on the Dash Text Wallet set-up below. I think you will be pleasantly surprised.

@shortsegments

Shortsegments is a writer and photographer on social media platforms Hive. He is also the founder of the Banking and Finance Community, Flowers Pictures Community and Hive Explained Community. Support for content creators in those communities is provided by @shortsegments.

Please follow @shortsegments Twitter Feed Here

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DASH TEXT

Dash Text is the popular SMS wallet that allows people to send and receive Dash just by texting. It is available in 5 countries; USA, Brazil, Venezuela, Colombia and Spain.

Dash Text is generally known as a service for people without smartphones, a clever solution for those who can’t download a wallet, a tool to broaden the reach of Dash to those unbanked, low income, living in developed countries with poor data reception, people who clearly need Dash as a solution. This was the whole reason Dash Text was created. An SMS Text wallet allows you to send and receive funds if you can access a mobile phone network. This means that when there are electrical power outages which have made transferring cryptocurrency impossible due to no internet, you can still use your mobile phone to send and receive Dash.

SMS Text Wallet Basics

Let’s look at Dash text and review how you create an account on dash text using your basic cellular phone with no internet capabilities.

The first step to use the Dash Text service is to create a wallet. In order to do so we must;

A. Send a text message to 3457 or 9910 from Venezuela with the word “CREATE”
Or send to 899979 in Columbia or 607-307-DASH from the USA. This creates your DASH wallet address.

B. Using this DASH WALLET address you will be able to send and receive DASH through SMS with no internet needed.

C. To receive funds we give our phone number to another DASH TEXT USER or the address of our Dash Wallet so other users can send us funds.

D. To send funds we must have the phone number of a Dash Text user or the Wallet address of the recipient.

E. To consult the balance of DASH in your wallet or to check the price of DASH in your currency you text the same numbers you used to create your dash wallet the word BALANCE or the word PRICE

Dash Text Product Details from Dash Text Website
Notice: I cut out some marketing words and sentences.

Dash Text is a SMS wallet that allows people to send and receive Dash just by texting.

It is available in 5 countries; USA, Brazil, Venezuela, Colombia and Spain. It is also available via Telegram. (No details provided.)

Dash Text is generally known as a service for people without smartphones, so it is a solution for those who can’t download a wallet. It is also a tool to broaden the reach of Dash to people with low income, living in developed countries with poor data reception.

An SMS Text wallet allows you to send and receive funds if you can access a mobile phone network. This means that when electrical power outages have made transferring cryptocurrency impossible due to no internet you can still use your mobile phone to send and receive Dash.

Although Dash Text showed significant adoption in South American Countries, the country with the second highest number of customers was the USA, where ease of use without learning anything about cryptocurrency was the number one factor for those who adopted it.

This is not the first SMS Text program, Coin-Text is another company that started out using only a Bitcoin Cash and now supports Bitcoin, Litecoin and Dash. Their platform is fully compatible with Dash Text. They added these coins due to demand from the communities.

Now leaving the website

Imagine the possibilities

First, in poor countries:
This could Provide a pathway for adoption of cryptocurrency in poor countries because it uses existing phones and cellular phone signals, along with a familiar technology text messaging.

Second, in other countries where internet is widely available, this provides a pathway where people don’t have to learn anything about cryptocurrency, but can easily use it to support content creators who ask for financial support in a specific cryptocurrency. The SMS Text provider can provide in application purchases and these people can still send cryptocurrency to a phone number. This would allow tipping of content creators with large followings by their followers in cryptocurrency without the followers learning much about cryptocurrency.

This is possibly a perfect pathway, the people don’t have to adapt to the technology, the technology has adapted to the people.

The Hive Community Exists all over the world in many communities where basic cellphones without internet capabilities outnumber smartphones with such capabilities. The looks a good pathway to more widespread adoption of cryptocurrency as a financial technology.

Written by Shortsegments.

✍️ ✍🏼

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This is what crypto really needs, because money can also be a carrier of a virus its time to use digital money that even my grandma can do easily. I have read before that they develop this also in Bitcoin Cash..