Cryptocurrency Dash and digital payments platform BlockPay have combined to produce a solution where shoppers can pay with Dash directly from the merchant. Dash users scan a QR Code or tap their phone on a BlockPay NFC terminal.
“This partnership benefits our entire community and all future Dash users because adoption grows alongside real world applications,” Dash vice president of business development Daniel Diaz said. “We found BlockPay and Dash have very common goals and together we are educating people on how cryptocurrencies can often be a better alternative to fiat.”
In addition to Dash, other cryptocurrencies available on BlockPay’s POS platform include Bitcoin, Ethereum, Steem, Litecoin, and Dogecoin.
BlockPay cofounder and CEO Christoph Hering said Dash comes with some unique advantages.
“We added Dash because we see a huge potential in the very active Dash community and in the underlying scaling technology of Dash.
“At the moment, Bitcoin has a big problem from a consumer perspective. The slow transaction speed, the high transaction fees and the speculative nature of Bitcoin make it very unsexy for everyday consumption.”
In a release Dash said its current focus is on versatility and flexibility in everyday purchase options.
BlockPay plays a vital role, Mr. Diaz added.
“Because mainstream users are less familiar with the cryptocurrency culture right now, it will be important for them to experience digital currencies, at least partially, in ways they are already familiar with. POS solutions that are helping retail stores accept digital currencies in ways the public is used to help build the cultural bridges we need for widespread digital currency adoption.”
Mr. Diaz added he is hoping for strong adoption of InstantSend, which allows for secure transactions to be quickly sent from the network, a situation ideal for POS environments.
Mr. Hering said BlockPay offers several advantages to merchants.
“BlockPay alleviates the electronic payment problems of high fees from credit card transactions, fraud, chargebacks, and rolling reserves, and provides merchants with a way to accept the next generation of digital currencies at zero cost.”
Tony Zerucha is managing editor of Bankless Times. "The evolution of the crowdfunding and peer-to-peer lending scenes is absolutely fascinating to chronicle. It is a joy to be around people with such passion and vision."