Welcome to ChangeNOW AMA with Michael Seitz, DASH Marketing Manager
Q: Michael, can you please tell us a bit about yourself and your involvement in Dash?
A: Hi everyone! First of all, thank you for having me! Absolutely my name is Michael Seitz and I am the marketing manager for Dash Core Group a DAO that is a part of the Dash Network. I work directly on Dash copy, public relations, social media, product, growth and much more and have been a part of the team for the past 1.5 years.
Q: The vast majority of the cryptocurrency community’s priorities are symbolic pricing. When prices rise, the community rejoices and grows. When they fall, many people begin to cast in a negative way. How will $Dash solve the negative problem when the price goes down? What is your plan to strengthen and develop the community to persuade more people to look at the product than the price?
A: Great! Thank you for the question! Dash has always focused on its product offerings and adoption partially for this reason. We believe in the value of not only code but the user experience and the ecosystem that surrounds a product. Focusing this way is an incredible opportunity for Dash to help our users achieve financial freedom in a variety of interesting ways. We have seen in our own project that communication around the product is important for community morale and helps our users understand both the trajectory and goals on a clearer level and also effectively communicates that we are hard at work on code and growth.
Q: Many investors only care about token price and their profit in the short term while only a small part of them cares about the long term and project health as well as tech. Can you tell us the motivation and benefits for investors to Hold $DASH for the long term?
A: Dash’s offering of digital payments and the dAPP’s and ecosystems that will soon surround our digital payments is key to the adoption of our project. With the Dash Platform recently announced, I believe Dash has made it clear that our focus is on long term growth around payments and we will continue to build our product and ecosystem in a strategic, systematic way.
It is easy to see the value of our technology when you see the issues users face with traditional remittances, payments, and many other digital money scenarios. Whether it’s the fee’s, the wait times to have access to your funds, or a general lack of confusion surrounding the process, Dash beats all other options for moving money digitally, period.
Dash also possesses a unique structure vs Bitcoin for example because of our masternode and governance model. Masternode owners host 1000 dash on their servers to help support the Dash network and for their computational efforts, each masternode receives a share of the block reward.
Additionally, each masternode is given one vote every month to help the network decide how best to spend our monthly treasury funds which aid in the growth and development of the Dash blockchain and encourages Dash users to leave their funds to help secure the network.
Q: What is the biggest benefit of using ChangeNow to buy Dash on a non-custodial exchange?
A: Great question! ChangeNOW is an excellent place to buy Dash considering the safety their non-custodial exchange offers. It creates immense value for Dash users by removing trust from the equation of buying. Their beautiful UX also makes the process incredibly simple and easy to use for our users which is an important component given our global community who have many varying needs.
Q: what strategies #DASH is doing to benefit from competitiveness?
So can you tell me what are the advantages of #DASH compared to its competitors?
A: Absolutely! Dash is nearly instant and with very low fees, it is also 51% attack proof in nature thanks to our ChainLocks feature. Additionally, it is instantly re-spendable when our full feature set is enabled thanks to LLMQ-Based InstantSend and ChainLocks, there are very few projects out there that I could send someone .25 USD and they could instantly resend it to another person. If you’ve never tried I encourage you to give it a try and compare the responsibility of different projects! I find it fascinating that this feature is missing from most digital payment options especially when you realize that it is probably the strongest feature physical cash over other digital payment options both inside and out the blockchain community.
On top of our speed, fees, and responsibility, we recently deployed the first stage of The Dash Platform. The Dash Platform is a 2nd layer solution to build dAPPS for the Dash Blockchain and ultimately our chosen path to user names built directly on our blockchain, soon the need for wallet addresses will be no more for Dash!
Q: How DashPay can change the future of cryptocurrency pay?
A: DashPay IS the future of cryptocurrency payments and will utilize usernames on the blockchain! DashPay allows Dash users to easily move money to and from a list of contacts that they can select from and trust. This is made possible by our recently released Dash Platform, which is currently in testing.
The Dash Platform gives developers the ability to build decentralized applications directly on top of the Dash Blockchain. Developers are able to do this without the need to learn any new programming languages and can connect their existing projects with Dash via most major coding languages.
This is exciting and the first step for our network to offer things such as usernames stored on the blockchain, metadata attached to payments (which can enable invoicing, integrated loyalty programs, etc), and potentially even the first full-featured decentralized database of its kind.
Q: If the dash uses the bitcoin blockchain, ho can a tx be registered as fast? It never happened that the bitcoin chain rejects a transaction done with DashPay?
A: Dash is based on bitcoin in terms of code, however, it is a separate chain from Bitcoin, we are able to achieve our speeds because of our masternode layer which is different from bitcoin. I’d encourage you to start to hear for learning more about Dash: https://docs.dash.org/en/stable/introduction/about.html
Q: Many blockchain projects and companies focus on making very complex systems and say they will revolutionize the banking system and help the unbanked. Since you work in the business area, how realistic do you think such statements are?
Q: 1, Do I need to do my KYC Verification for Using dash pay?
2, How will you Face regulation problems from Governments of countries, if you try to launch your project in different countries (bc like Vietnam does not accept for payment by crypto)?
A: 1. KYC will depend on the platforms that you choose to use Dash with, some of our partners prefer to offer KYC and some do not.
2. This is one of the benefits Dash has as a network, we are committed to speaking with regulators and educating them on our product and technology to help them understand how it is beneficial to their people and systems.
Q: 2020 I think is a great year for crypto and blockchain. So, What’s your outlook on the future of cryptocurrencies in the next few years? What can we do to keep increasing adoption? and how does DASH do for that?
A: I agree 2020 is often to an interesting start already! I believe that the biggest thing cryptocurrencies need to focus on for the next few years is education. It is easy to become comfortable with the tech surrounding us in this industry, but it is important to realize the mass of people on this planet is not only unfamiliar with cryptocurrency and blockchain but most technology and finance in general. Education in my view is one of the most powerful things the blockchain can focus on.
Q: There are so many different Blockchains, each one having different features like ETH for the smart contract, some have privacy features but what features does dash have and why do you think people will use it?
A: Dash has a number of features that separate us from other projects, some already live and some are in development and testing stages. One of our biggest features is our speed, responsibility, and low fees all at the same time. The responsibility specifically I find very interesting for easy micropayments, especially in a scenario where you need to be able to move that same money many times.
Separate from our current features, Dash Platform is a game-changing moment for Dash. Dash Platform will allow for data contracts on the Dash blockchain and even ways for developers of things like ethereum to connect their existing projects to Dash.
Q: Can you tell about your recent partnership with Venezuelan Burger King in more detail? This is a really huge retailer, so it sounds like the first mass adoption of crypto.
A: The Burger King partnership in Venezuela is a massive moment for Dash! The value their brand gives us in the country along with all of our other efforts over the past few years there has been very effective. We are now accepted in nearly 1000 merchants nationwide in Venezuela!
Q: That’s a lot! Does your partnership with KFC still work?
A: There was confusion surrounding KFC in 2018 because we also launched in Church’s Chicken at the same time. Currently, Dash is not accepted in KFC but we are accepted in Church’s Chicken in Venezuela nationwide (I believe there are 13 locations).
Q: After a block of more than a decade of barbaric growth, this year’s Facebook digital currency libra, the central bank is also actively promoting digital currency, the blockchain industry seems to be on the right sunshine road, what do you think the blockchain industry should be Facing supervision? How does DASH work with regulators?
A: There is definitely a trajectory headed towards some sort of conversation or tipping point with regulators/governments. It is interesting to see things like Libra appear. To me it only validates what has been done already in the open-source community and as more people outside of blockchain become educated on the value of not only blockchain but open-source I believe that approach will continue to succeed. Dash works with regulators to understand concerns they may have and attempt to educate or find a solution. We have an excellent group of people who are comfortable speaking to them.
Q: Your goals in 2020?
A: Great question! I believe Dash has lots to do in terms of education of our technology both inside of blockchain and to more mainstream audiences. We are focused in the right ways and I believe are planning properly but it is the biggest challenge that all blockchain projects currently face, especially when thinking about non-technical people around the world. Our goals in 2020 are currently focused around Venezuela, cash-heavy businesses, and completing the Dash Platform on mainnet.
Q: Is DASH being accepted for any charity programs? Have you ever thought of working that way?
A: Great question! One of my personal favorite Dash funded projects is Dash Text Charity. It is an SMS based donation system to give money to at-risk kids at a few schools in Venezuela and to help them buy breakfast!
I actually would like to do more in charitable areas. I believe it is very valuable to the givers/receivers and it also shows the lack of “middlemen” in our technology and that is great for education.
Q: So far it has been extremely difficult for utility or payment tokens to see adoption in the market. Why do you think DASH as a token will see immediate adoption?
A: Dash is already seeing adoption in Venezuela, we have proven that when you focus on user experience, the ecosystem that surrounds it, and have a great product that people will use it. Our self-funded approach to business development, marketing, and software development helps us to be focused on key markets to both learn and grow while we help others achieve financial freedom.
Q: Do you have any other countries in plans? For example, to partner with BK in other crypto-friendly countries. Or other mass-market retailers in Venezuela.
A: We are active in most parts of the world, Venezuela is our largest focus. However, we have network funded business development teams in multiple countries around the world. Germany, Thailand, and a few others at this time I believe. These teams find us partners and opportunities when they appear.
Thanks, everyone for the questions and participation! Glad I was able to join today! For more information about Dash, you can go to https://www.dash.org.
To learn more about the Dash Platform head to https://dashplatform.readme.io/docs/introduction-what-is-dash
Dash Twitter: https://twitter.com/dashpay
Michael Twitter: https://twitter.com/sdseitz