Caracas, Venezuela — 19 April, 2021

Church’s Chicken Venezuela Can Now Pay Staff With Dash Cryptocurrency

This press release is also available in Spanish ESPAÑOL.

Church’s Chicken Venezuela has enabled Dash cryptocurrency as an employee salary bonus payment option for part of their office staff as a solution for the lack of infrastructure for payments in the country. After a three month test 97% of test users approved the system.

Dash, the top digital currency for payments and e-commerce, has announced it has completed a three month test of their Dasherpay payroll solution with Church’s Chicken Venezuela, the leading fast food outlet in their segment. Since January, Church’s Chicken staff has been receiving and using Dash as part of their monthly compensation as a means to solve real payment and hyperinflation problems.

This project is the first of its kind in the Latin American merchant sector, cementing Church’s Chicken reputation in Venezuela as the leader in innovative solutions in the country, exposing Dash and cryptocurrencies to their team members, whom can shop at one of the thousands of stores that accept Dash directly, or exchange it for Bolivars at one of the many exchanges operating in the country. Dash receivers can now experience up to a 95% reduction in checkout waiting times, and are able to pay exact amounts, or can simply avoid hyperinflation in Bolivars if they decide to cash out.

In 2018, Church's Chicken Venezuela was the first fast food franchise in Venezuela to start accepting the cryptocurrency Dash as a method of payment.

This initial deployment for the first Dash payroll system inside of Church’s Chicken Venezuela is the result of cooperation between the Dash Text and Dash Core Group teams, and is a legally compliant solution that any firm can utilize to offer the option of Dash as a salary method for their team members in Venezuela. The Dash Text platform, called Dasherpay, can be accessed online and allows for a non custodial system that enables a fast and inexpensive way to deliver employees salaries, partially or in the amount they see fit. Once logged in the platform, the HR executive populates the employees name, wallet address, dollar amount and date for recurring payment; then the platform executes the payout in a straightforward manner to all listed individuals. Because the system is a non custodial solution, firms can select the best approach for acquiring the Dash in the most efficient, and legally compliant way.

"It has been studied that in Venezuela, over sixty percent of all transactions are completed in Dollars, but the migration to this currency has brought new problems such as the lack of smaller banknotes. This creates a problem for store management, as they cannot offer change; and a problem to users, who must spend more than they intended. These problems are solved by migrating to digital cash, because payments can be made in exact amounts, at the same time there is improvement in the speed of cashout. With Dash in the hands of people, they can use fast and inexpensive digital cash at the thousands of locations that currently accept Dash throughout the country.”

Ryan Taylor, Dash Core Group CEO

The program is currently being rolled out to five other SMEs and there are negotiations to expand Dasherpay to more organizations during the year.

“This program has served as a solution for us, because it involves a simple payroll process due to its ease of use, and it is beneficial to our team members to receive payments with Dash. We were the first major chain to accept Dash in Venezuela, and we are pleased to work with the Dash teams in implementing this payroll solution.”

Leidimar Amundaraín, Human Resources Director at Church's Chicken Venezuela

Saradei Mulato, Church Chicken admin assistant, said: “At first we had doubts about the payment system, because cryptocurrency issues seem to be complicated for most people, but after using it for the first time, and seeing that even the cashier considered Dash easier to use than other options I felt much more secure. The change issue is resolved, and paying with cryptocurrencies is much easier, fast and inexpensive. Now I can save time and money with this innovative payments method.”

For Dash, this is part of an expansion program into more large businesses in Venezuela, as this allows to digitize part of peoples’ cash through cryptocurrency, helping them to advance into financial inclusion, and at the same time contributing to solve important problems on the day to day activities for merchants, users in all of Venezuela.

Ryan Taylor, CEO at Dash Core Group, and Leidimar Amundaraín, Church’s Chicken Venezuela HR Director are available for interview.

Contact Information: For press and media inquiries please contact the Dash press team at [email protected] We look forward to hearing from you.

MARK MASON

Communications and Business Relations Manager at Dash

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About Dash

Dash is digital cash designed to offer financial freedom to everyone. Dash allows millions of individuals across the globe to carry out instantly re-spendable and secure transactions, with near-zero fees. Built to support real-life use cases, Dash is the leading decentralized payment solution: it is accepted at merchants globally, accessible via 3,300+ ATMs and 100+ exchanges worldwide. Dash has pioneered groundbreaking features including a two-tier network with incentivized nodes and decentralized project governance (Masternodes), instantly settled payments (InstantSend), instantly immutable blockchain (ChainLocks) and more. The Dash Network’s development is supported by Dash Core Group, the largest organization funded by the Dash Treasury, which supports and nurtures the continued worldwide development and integration of Dash. For more information, visit https://www.dash.org/ or follow the organization on Twitter @DashPay.

About Church’s Chicken Venezuela

We are an international fast food franchise globally known to offer the crunchiest and tastiest chicken. Talking about Church’s Chicken means bringing the best crunch to your palate. Our main value is family love, and that’s why our slogan promotes sharing of our products with family and your loved ones. In Church’s Chicken Venezuela and in the rest of the world “Good things are always shared.”