Open source, decentralized cryptocurrency dash has been integrated into one of Australia’s most promising digital currency companies, Living Room of Satoshi (LRoS), a business that has already transformed the way people pay their bills online, said a dash-LRoS joint press release sent to CoinReport.
LRoS, which was founded just two years ago, was awarded the 2015 Australian Startup of the Year award by StartupSmart for the innovative way the firm lets Australians pay their everyday bills with digital currency, including government tax bills, rent, phone bills, utilities, insurance bills, credit card debit and speeding fines. The service is linked to BPAY, an online bill payment mechanism accepted by over 45,000 companies across Australia.
Dash’s integration into LRoS makes the cryptocurrency the only other option for bill payments on LRoS.
LRoS has processed over $2 million AUD in the first three quarters of 2016, a 250% increase from $800,000 AUD the previous year.
“We attribute the success of Living Room of Satoshi to an unwavering focus on ease of use. When I pay a bill, I want the process to be as quick and easy as possible, and that attitude is reflected in every aspect of our service,” said Living Room of Satoshi founder and CEO Daniel Alexiuc on the occasion.
“Even those new to digital currencies have noted how simple our site is to use; there is no signup required, just simply enter the bill details, pay your bill, and you’re done. We have just passed the milestone of processing over $100,000 AUD per week, with no sign of slowing down.”
Dash had a humble start as a privacy-centric cryptocurrency project. It has since grown into a next-generation payments substitute for the real world, impeccably matching the requirements for Living Room of Satoshi.
“We’ve tested other coins like Ethereum, but frequent hard forks and reliability issues made it unfeasible. Dash is perfectly suited as a payment system for bills and real world purchasing of goods and services. From the start, Dash was able to fill the holes Bitcoin created. Dash has the ability to effect transactions instantly, compared to prolonged bitcoin payments lagging over 10 minutes,” added Alexiuc.
The market cap of dash has quintupled in value in a year and experienced a 3000% increase in 24-hour trading volume from October 31, 2015 ($40,000 USD) to October 31, 2016 ($1.2 million USD), said the press release.
Daniel Diaz, vice president of business development for dash, said, “We are happy to see true innovators in the space endorse Dash as the leading payment network alternative for their users. In this case, Dash’s focus on instant confirmations and usability makes it the ideal fit for Living Room of Satoshi and will dramatically enhance the user experience. The growing amount of options to use Dash as ‘digital cash’ is the result of our overall strategy to develop a smooth roadway bringing cryptocurrencies into the hand of consumers all over the world.”
LRoS will be utilizing dash’s InstantSend technology when the Australian Banking Industry unchains its New Payments Platform, planned for early next year. The enterprise will let real-time bank transfers between local Australian banking establishments to be possible i.e. instant, international fiat payments can be made to any Australian bank account from anywhere in the world using dash.
“The InstantSend feature of Dash separates them from every other cryptocurrency in the space. The integration with Living Room of Satoshi will ensure that money is sent and received faster than ever before, heightening user experience,” Alexiuc added.
Dash logo – Courtesy of dash via PR firm Wachsman PR
LRoS logo and Daniel Alexiuc’s photo – Courtesy of LRoS