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The Dash Core Group’s Business Development Team expanded on their last quarterly call’s business development update with a separate, more detailed business development call.
The call was moderated by Bradley Zastrow, the Global Head of Business Development for Dash. At the 1:00 minute mark, they highlighted how Dash is “solving a specific problem with payments, because Dash wants to improve financial freedom; everyone deserves secure, cheap, and fast payments”. Bradley then highlighted how to grow Dash is to focus on key users and priorities because it is implausible to focus on everyone around the world all at once. This has caused Dash to focus on a few, but important industries; legal cannabis in the United States, high chargebacks for the gambling industry, hyperinflation in countries like Venezuela, remittances in the US-Mexico corridor, and cryptocurrency trading.
Bradley also emphasized that “business development is a service, not a sales organization” in relation to their role relative to Dash and cryptocurrency. They are aiming to make Dash integration with businesses easier by finding new partners, developing long-term relationships to drive growth back to partners, and creating new capabilities with integrations.
“By bringing these three pillars together, we will be able to do what no other network can do; bring our partners together to create a larger opportunity and in a creative way that they would not normally work. This will help set us apart from the marketplace.”
The Business Development Capabilities Team will tailor Dash’s solutions to the unique integration problems of each partner, lowing the switching costs from the old financial system.
Align with key market segments to expand growth
The business development team recognizes that there are key partnerships out there that can heavily benefit from accepting Dash, which can generate a high ROI for the Business Development Team’s involvement. The team first mentioned the growing legal marijuana industry in the US and Canada and highlighted the progress that Alt Thirty Six has made. The business development team wants to integrate more businesses that would benefit from Alt Thirty Six’s combination of Dash with a POS system. This solves the direct problem of marijuana businesses not having access to bank accounts and having to operate in cash only. The team also sees heavy usage for Dash in the gambling sector since they often suffer from high chargebacks by credit card agencies, which are often passed onto consumers. These are mainly solutions for the first world and problems those individuals face, but Dash also has a lot to provide individuals in underdeveloped nations.
The team then discussed how Dash is already providing direct help to Venezuelans and they want to expand that success even further and replicate what the local communities have already created. Dash helps alleviate the hyperinflationary situation that individuals are suffering from by creating a more stable currency built on real world adoption and usage. The next pain point to solve was that of remittances for individuals and their families around the globe, but specifically in the US-Mexico corridor for now. Dash provides a simple, inexpensive, fast, and a secure way to send money across borders. However, as the business development team highlighted, using Dash for remittances requires Dash infrastructure in both the sending and receiving countries so individuals in both countries can find ways to get, use, or cash-out Dash.
The last pillar was how Dash is actually being used for cryptocurrency trading other coins since Dash is fast, cheap, and secure making it one of the best options to use when moving in and out of exchanges quickly for arbitrage. Other coins lack this feature and the business development team will focus on having exchanges integrate InstantSend since it allows Dash transaction confirmations in just over a second for only pennies. All these pillars highlight how Dash is being used around the world by its various core consumer bases.
Growth through decentralized coordination
Dash is able to utilize its DAO to fund the Business Development Team within the Dash Core Group to hash out useful growth marketing and strategy. This prevents Dash from seeking out random partnerships and not following through with those partnerships, which has a low ROI. The Business Development Team is able to develop a coherent strategy to maximize adoption, while also helping businesses troubleshoot issues that they encounter. Nevertheless, the Business Development Team is still under the umbrella of Dash Core Group, which must continuously appeal to the Masternodes to have its funding renewed. This ensures that if the Business Development Team strays too far from what the Dash community wants, then they will be forced to rectify their strategy and operation or face defunding.
The Business Development Team is just one organization within the Dash community that is aiming to help further key business integrations and help consumers and merchants solve any technical issues they find. There is Dash Venezuela and their affiliates, Dash Help and Dash Merchant across Latin America, Dash Embassy D-A-CH in German-speaking Europe, Dash Hub Africa, Dashy Africa, and others. The plethora of groups within the Dash community pursuing Dash merchant integrations and Dash consumer understanding is a demonstration of Dash’s commitment to ease of use and desire to become an everyday cryptocurrency used in everyday transactions.