Ryan Taylor, CEO of Dash Core Group spoke at “Crypto, Global Payments and Emerging Markets” panel at Consensus 2021.

He has been talking about how is Dash seeing payments take off in emerging markets and how are you able to turn the technology into success in that region?

Ryan Taylor:  “For me it is the adoption. It is actually seeing the transformation from kind of the early crypto enthusiasts to mainstream audience. Looking at our own matrix of the use of Dash wallet in Latin America. We are seeing a broader audience across more and more countries that are leveraging it. We are seeing more of a movement in to Women. We have 40% of our wallet users that are not female. And it is skewing over older time.  And, so we are seeing just a proliferation of users in to new demographics. And, they are engaging with it more frequently.  The other thing that we are seeing is adoption from commercial enterprises, accepted officially. And, also use it as a part of their B2B transactions. Particularly for cross border and particularly in countries where lot of documentations become necessary and is a barrier to business. We are just seeing many different areas in which this is starting to grow.

We think it is really important to have that ease of use. Don’t require the user to learn about some alternative approach to processing off chain or doing anything like that. Having something that is readily accessible that they can learn quickly. And, offering cheap relatively quick transactions is what the end user is looking for. But we are seeing continuous growth there. We are seeing those new demographics. Especially skewing older in the last year. And, in the older demographics, it is actually skewing female unlike the younger demographics.

We are just seeing a lot more users. A lot of broader base of users. And a lot broader set of countries that are beginning to embrace it as a real payment method. And, the numbers I am giving you are active users. These are people that have transacted on their device in the last month. And, so we do get some pretty good insights about how things are actually changing.

And, if you look at Venezuela in particular, where we have got 40% of our user bases in Venezuela.  We are actually starting to see that crypto came out and showed up as a payment type that is used enough to show up on some of the surveys that they do of payment methods that people prefer. And, so in places like Venezuela, where the existing payment rails frankly suck.  The environment is right for a broad base of users to start to use crypto.”