Announced earlier this month, Rewards.com integrated Dash into its platform for giving rewards to users directly in cryptocurrency for retail purchases. The integration was announced during the Consensus conference in New York City, and Rewards.com had a presence at the Dash booth:
According to CEO and co-founder Todd Rowan, allowing customers to acquire Dash for purchases, either withdrawing it or keeping it on the platform as points for additional purchases, integrates them into the crypto-economy in a less intimidating fashion than simply taking the plunge and getting a wallet and buying off an exchange:
“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.”
Rewards.com is a platform that allows customers to purchase from over 7,000 businesses across the retail spectrum and earn rewards similar to loyalty points. Customers typically receive RWRD tokens, which can then be redeemed for further purchases on the platform, and Dash’s addition will serve a similar function.
Dash to be fully accepted on the platform at the end of 2018
The integration is a first step into full acceptance. At present Dash is only paid out as reward points for purchases with regular fiat currency, however this is set to change. By the end of the year, in Q4 of 2018, Dash will be fully accepted as a form of payment on the site, enabling a host of additional retail purchases with Dash. According to Dash Core’s head of business development Brad Zastrow, this is an important stepping stone for wide adoption:
“This is the next step for Dash in our goal of achieving widespread mainstream adoption. The partnership with a high caliber business like Rewards.com lowers the barrier to entry by eliminating the complication for those unfamiliar with digital asset exchanges. No longer do people need to buy, mine or trade for Dash. With this partnership, everyday consumers can earn Dash simply by shopping, which has never been done before on this platform. We believe our new alliance will encourage consumers to explore alternative options for payments and bring added value to loyalty rewards programs, particularly for an increasingly tech savvy audience.”
Cryptocurrency has long been a tool for the technical and speculative, with little real use among average consumers. Nearly a decade after its inception, this is beginning to change.
Bit by bit, Dash is moving towards adoption dominance
Dash is steadily gaining ground in commercial adoption, making headway against competitors into the general market. This includes increasing popularity in crypto circles, as evidenced by New Hampshire’s local Bitcoin Pizza Day, a celebration of the first recorded cryptocurrency purchase of two pizzas for 5,000 Bitcoin each, being dominated by Dash, while companies such as BadMirror.tv reporting internal survey results of their employees overwhelmingly preferring Dash for payments over other cryptocurrencies. Alt Thirty Six has also officially launched its platform and partnered with WebJoint, which has brought on board 200 cannabis dispensaries, with thousands more projected to follow.
At present, Dash is accepted as payment in nearly 1,200 businesses around the world as listed on DiscoverDash. 247 of these are in the US, with a heavy concentration of 66 in the small state of New Hampshire; however, a quickly-rising close second is Venezuela, which presently lists 217, of which 120 are in the Caracas area alone. Because of this, among other factors, a market research report by investment platform eToro considers Dash to be “acutely undervalued.”