Over the past few months a dedicated team, funded mostly through the use of the $PAC DAO proposal network has achieved incredible strides in adoption due to the struggling economic situation currently happening in Venezuela, where cryptocurrencies like $PAC are providing a way out of the uncontrollable effects of hyperinflation of the native FIAT currency the Bolivar.
The team recently held their second conference in the region on-boarding individuals, businesses & officials onto the $PAC brand and educating them on the benefits the $PAC payment, how our fast, secure and stable payment network can bring improved commerce within the region.
“Introducing $PAC to Venezuela” a conference where the objective was to explain the basic concept and utility of blockchain-based digital assets, specifically $PAC.
We saw an incredible impact with the local citizens and businesses. Feedback directly from the event organizers and attendees proved that those who attended the conference were really interested in knowing more about $PAC, how the eco-system is evolving and the potential to de-tether themselves from a failing economy in favor of a more secure, commerce solution.
More than 45 new wallets were downloaded, registered and credited with $PAC
Initially there was an ask for a budget to host just 2 conferences: which could cater to 50 to 90 people, coming to roughly 1,000,000 $PAC ($744.84) for each conference, which I’m sure you’ll agree is a relatively cost-efficient way of bringing new businesses and potential partners to the project.
The objectives at the second wave of conferences was to pitch the project of $PAC, how to use it and why it could be a solution for the Venezuelan/Colombian economic Crisis.
The first conference was made in Cúcuta, Colombia to support $PAC community in this region. This decision was made after the first successful conference in Caracas, Venezuela. The $PAC project provided airdrops for the attendants and demonstrated a full presentation about $PAC, it’s underlying technology and it’s utility as an alternative to FIAT in commerce.
The second conference resulted in numerous businesses signing on as $PAC merchants, which we are still in active contact with to ensure they are set up with the latest wallets, POS devices and incentives to accept $PAC as a currency for goods and services. This was a welcome first step in increased adoption in Cúcuta so that with time, effort and continued exposure in the region we could see rapid expansion to other businesses, users and applications.
The success of the initial conferences have been a way to build a template on-boarding mechanism that could lay the foundation for expansion into other LATAM territories. Our goal is education first, adoption second as building a seamless confidence in the product provides more long term value as the $PAC brand familiarizes itself with the local communities.
The topics of Masternode ownership, passive ROI and merchant adoption were key in showcasing the overall benefits of utilizing $PAC as an alternative payment system. People were very interested in knowing more; even asking how they can change BSS to $PAC, directly which is something that will happen soon thanks to a recent partnership with ‘Efectivo Digital’ a merchant FIAT > Crypto migration provider.
$PAC’s goals of merchant adoption in the region is growing and, in the near future we would like to start an official organization, rent office space and prepare a full merchant adoption team to visit the thousands of other businesses locally so they could start accepting $PAC too!