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“Dash essentially will be the PayPal of legal cannabis industry” – Dash PR at UK Parliament

Ranjitha Shastry

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"Dash essentially will be the PayPal of legal cannabis industry" - Dash PR at UK Parliament
Source: Pixabay

On 22nd July, Mark Mason, Dash International Outreach Coordinator [Dash- funded organization], gave a speech at the Houses of Parliament in the United Kingdom. The speech focused on what blockchain is, how blockchain is related to Dash and the features of Dash blockchain.

Mason explained:

“Dash is an open-source, peer-to-peer, digital currency with a strong focus on the payments industry, utilising blockchain technology.”

Dash was launched in the year 2014 and has experienced tremendous growth over the years. The main feature of Dash as explained by Mason is that it allows an individual to send an amount to anyone in the world instantly for “less than a penny” without the involvement of middlemen.

He further stated:

“Dash offers a form of money that is portable, inexpensive, divisible and fast. It can be spent easily and instantly at merchants across the globe at much lower fees than credit and debit cards.”

As mentioned on the Dash website, it was originally formulated by Evan Duffield, who used Bitcoin’s source code to create his own coin. The coin was originally called ‘Xcoin’, later ‘Darkcoin’ in reference to its privacy features, and then finally settled on ‘Dash’ [short for “Digital Cash”]. It is the “only major self-funded, self-governed organization in the cryptocurrency industry”. This attribute allows for constant development and funding for the entire project. Mason said:

“This self-funded and self-governed protocol enables the network to pay individuals and businesses for work that adds value to the network.”

Dash has by far funded a few visible marketing projects which include ‘Dash: Detailed’ which has contributed for increased awareness of Dash. On the matter of where and how can one spend Dash, Mason shed light on the ATMs, apps and websites that offer for payment with Dash. Mark Mason further explained:

“PayCent, offers a debit card that allows you to spend Dash anywhere, [where] Visa or Mastercard is accepted. Dash is available at 410- Dash ATM machines around the world listed on coinatmradar.com. You can buy Dash at 400 post offices in Austria with cash. You can buy Dash at 9000 Kiosks in Ukraine. Dash is available at 10,000 Spanish retailers.”

Dash also has an “exclusive agreement” to be added as a payment option to “4000 legal cannabis dispensaries, suppliers and distributors in the United States”.

Mason remarked:

“Dash essentially will be the PayPal of legal cannabis industry.”

Mark also mentioned in his speech about a lot of merchants and partnerships that offer Dash-blockchain, some of the prominent ones are:

  • Bitrefill
  • Remax: Rent and purchase real-estate.
  • Uphold and Bitwage [partnership]: Earn salary.
  • BlockCypher and US Department of Energy’s National Renewable Laboratory [partnership]: Peer-to-peer electricity exchanges.

Mason emphasized the most crucial question of the entire speech on how can one really unbank oneself with Dash. He demonstrated an example to explain the same:

“I recently traveled to New Hampshire in America and I met a number of individuals that are unbanked and live of Dash 100%. However, I really want to highlight where Dash is helping those who need digital currency the most. Recently we have seen a big increase in adoption in Venice where central planning and central banking has failed and the country has suffered a severe currency crisis.”

“Inflation in Venezuela is now above 40,000%. In the last month, over 500 merchants in Venezuela are now accepting Dash and this number is increasing daily.”

Mason’s statistics also explained how people are starting to select Dash for cross-border payments.

Dash currently has a market cap of 2 billion and a price of $243.90. It has seen a rise of 4.30% in the past week.

Dash price history [7 days] | Source: CoinMarketCap

Dash price history [7 days] | Source: CoinMarketCap





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Ranjitha Shastry is a part of AMBCrypto's News Reporting Team. Having done her major in Journalism and mass communication, she is passionate about business and economic journalism.

News

GateHub: Stolen XRP funds transferred to prominent exchanges

Namrata Shukla

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GateHub stolen XRP funds moved to Bitfinex and OKEx
Source: Pixabay

The GateHub hack that took place earlier this month resulted in the exchange losing nearly 23 million XRP worth approximately $9 million. However, Whale Alert, a tracker of large crypto transactions, alerted the community of these stolen funds being moved to various different exchanges.

One of these exchanges was identified to be Bitfinex, which received 400,025 XRP on June 16 at 10:57:22 UTC. The sender’s address was r4hyDYXv7iV3oCahxQzqYYfgxwyBx3AyMN and was identified to be from the GateHub hack 2019. The receiver’s address was identified to be Bitfinex’s- r9o9MerrS7d2GAEs6JPj4v4JcvZAJNtLUY. The hash rate of the transaction was 21124F7818A2903E9750456D603CC9AACC9DBE6CE2EF0AA191C734339B4CA682 and the transaction details were as follows:

Source: Whale Alert

Source: Whale Alert

Another transaction was noted to take place to the Bitfinex wallet address where 100,000 XRP was transferred from another identified GateHub hack address. The identified Bitfinex’s wallet address was rDcz7P9YMpffLKhRBovTzhUr3wKtk3y9q7. This wallet address was quick to transfer the funds immediately to another exchange, OKEx. OKEx previously received 3,000 XRP from the stolen funds to an identified OKEx address- rUzWJkXyEtT8ekSSxkBYPqCvHpngcy6Fks. The hash rate of the transaction was noted to be BE97F68A20E996A2E1A37228DCBD45A1F26E8E2B3A842E9FCFFF7721157C1C37 and following were the transaction details:

Source: Whale Alert

Source: Whale Alert

The stolen funds were moved to another prominent exchange, Binance, and CZ was swift to inform Whale Alert that he would look into it. However, the crypto users did not find any relief about these funds going to other exchanges as the exchanges did not respond to the large transactions.





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