Dash Text is inspired by services that allow BCH to be transferred via text messages called CoinText, as well as other payment systems based on Venezuelan text messages and cryptoactive companies that have also launched their own SMS transfer services, such as the one recently carried out by Blockstream.
This wallet works by text messaging only 5 digits – a service similar to voting by the messaging system – which processes the sending or withdrawal of cryptocurrency quickly, according to the company.
The company states that it does not store the user's private key – which is generated from the user's telephone number – but they also do not claim that they will be given to customers.
In addition, even though the Dash team ensures that all transfer services and wallets are private, we must also consider that the user must be beforehand Register all your personal data on the operator platform to have that telephone number, which is closely related to the wallet and its operations, because without it no seeds are produced, moreover transactions can be made.
The main purpose of this wallet is to offer services that are not dependent on Internet use, because in Venezuela most residents do not have Internet access or have problems with electricity supply in their residential areas. Also, the wallet is thinking of people who don't have smart phones, they said on their website.
Currently Dash Text only works with Movistar telecommunications companies, but have plans for the future so that the services are processed equally by Digitel and Movilnet, a company that also provides telephone services in Venezuela.
Likewise, among his future plans, he indicated that the wallet had begun offering its services to businesses throughout Venezuela. A campaign that aims to offer users the possibility of buying goods and services through transfers with instant telephone messages, in addition to sending money.
The dashboard team for one month works on the beta version of the wallet, which can be tested by Dash customers. This project was submitted to the cryptocurrency treasury a few months ago, approved by the organization called "Dash-Text-SMS-Wallets".
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