John Vibes–Recent years have seen numerous financial platforms disrupted by cryptocurrency and blockchain technology, and now a new partnership between Dash and Rewards.com could threaten the dominance that PayPal has in the business of online transactions.
Rewards.com is a popular website that allows subscribers to earn money back on purchases that they make at a variety of retailers, and until now, the only options for cashout through the site were cash and PayPal. But now they are offering an option for Dash as well.
Bradley Zastrow, director of global business development for the Dash Core Team, told Inverse, “It’s a way for mainstream people to start dipping their toe into cryptocurrency. Right now today, we’re still far away from mainstream adoption.”
“It feels weird to be saying ‘the next PayPal’ in kind of that sense. We definitely want to be broader and bigger than that,” Zastrow added.
In a recent statement, Rewards.com founder Todd Rowan explained:
“The remarkable aspect of this partnership is we are introducing people to cryptocurrency in a non-threatening way. Let’s say you shop at Macy’s, Groupon, or Hotels.com you can earn a portion of their total purchase in cryptocurrency. The program works just like any points program. You can keep your rewards in the ecosystem just like you would with any type of reward point or redeem it for products, travel, restaurants, or gift cards. The earnings from Rewards.com will help you to start to learn about how to use cryptocurrency, including trading it on the market for Bitcoin or cryptocurrencies. Rewards.com takes us one step closer to global mainstream acceptance of cryptocurrency.”
Most importantly, this is a great way for people to get involved in cryptocurrency if they are interested, but also nervous about putting their hard-earned money in a volatile market. These concerns can be especially serious for people who live paycheck to paycheck and don’t have the disposable income to invest or even save. This allows people to earn crypto for free without putting their paychecks on the line.
Earlier this month, The Free Thought Project reported that this technology is making it possible for an entire town in New Hampshire to accept cryptocurrency. In the town of Portsmouth, the currency of choice is Dash, since it works perfectly as a point of sale payment system, with instant transfers and low fees. Last year, the city became the first in the state to install an ATM machine that offered services for Dash.
Blockchain startups have also been offering interesting solutions for the cannabis industry, which is facing strict regulations from the government, as well as constant take-over attempts by large corporations. Thanks to a Dash sponsorship, Alt Thirty-Six announced a partnership with the cannabis software company WebJoint, which they say will allow for more widespread cryptocurrency adoption in cannabis retail locations.
Last week, we reported that a group of scientists is using blockchain technology to stop Monsanto from patenting cannabis strains. A creative solution to this problem is a sort of cannabis genome project, in which researchers use technology that gathers the genetic information of the plant.
Medical Genomics, the group behind the project, is publishing all of their results at Kannapedia.com using their StrainSEEK Identification and Registration service. Medicinal Genomics is a 15-person start-up best known for first sequencing the cannabis genome and open sourcing its genome as a scientific charity to the world.
In addition to being a cheaper and faster alternative to Bitcoin, Dash also invests in various projects, both charitable and professional, to spread the word about this technology and to show its true potential. Dash has funded alternative media, youth programs in Africa and food charities in Venezuela.