Panamanian crypto-teller machine TigoCTM has added Dash to its roster of cryptocurrencies for sale and purchase over its network in Latin America.
With a new partnership, Dash will see its partner TigoCTM, a crypto teller machine company, add the cryptocurrency to its network of ATMs that already provides bitcoin and other digital currencies to adopters and new users in Panama and Latin America.
TigoCTM CEO Cindy Zimmerman sees reason for cryptocurrencies to flourish in Latin America among unbanked or underbanked users in Latin America, particularly in countries like Venezuela where economic instability and uncertainty is well publicized. The chief executive revealed that many of TigoCTM’s customers do not trust nor want to use the banking system locally.
In statements, Zimmerman said:
We started this company in Panama because there was no way for anyone there to convert cash into cryptocurrency, and after the financial crisis in Venezuela took hold, the demand for an alternative way of accessing money quickly grew.
For example, the bolivar has recently seen 100% year over year inflation; bitcoin has been more stable than some local fiat currencies.
Dash turned two years old in January 2016 and marked the occasion by doubling its blocksize from 1MB to 2MB following an instant vote among stakeholders running a node of 1,000 Dash or more. The voting process was resolved within 24 hours, with an overwhelming majority of 2156 yes votes to 4 who voted against the blocksize increase.
Dash founder Evan Duffield spoke to CCN.com after the second year of the Dash project, which he saw as a fork of Bitcoin, before detailing fundamental differences between Dash and Bitcoin. The cryptocurrency is notable for its use of a two-tier network of masternodes, unlike the Bitcoin network where all nodes are seen as the same.
Speaking to CCN.com, Duffield stated:
[T]he Dash network with its second tier gives the network the ability to pay our full-nodes, allowing for a permanent robust network of nodes. As our network grows, the operators of our second tier actually make more money because they share in the mining reward.
Built on this technology, we’ve unlocked the ability to do instantaneous transactions on our network that confirm in 1-4 seconds.
With a market cap of $55 million, Dash is currently the 8th biggest cryptocurrency, with a trading volume of $ 338,978 in the last 24 hours.
Featured image from Shutterstock.
Last modified: May 21, 2020 10:20 AM UTC