What stands between digital currency and mass
adoption? Some say there has yet to be a “killer app” invented, but if currency itself is
not at least the first killer app, then probably nothing is. Perhaps the mystery between here and mass
adoption can be dissected if we look closer at the userbase of this ten billion dollar
plus industry, which is primarily computer programmers, tech enthusiasts, and risk-loving
day traders. And this is awesome, but chances are that
your mother does not fall into one of those categories. Is it reasonable to pine for mass
adoption of a product that your mother is not interested in? Well, lead developer of Dash, Evan Duffield,
wondered that very thing when he sat down one day with his mother to use Dash with her,
and one of the first things she remarked upon was how weird and uncomfortable she felt with
alphanumeric addresses. Now this may sound strange to the cryptographer
within you, but we would do well to realize that most people aren’t interested in these
sorts of things. And so what is to be done? Well, Duffield took his mother’s input and
has developed a forthcoming product called Dash ‘Evolution,’ set to be released in late
2017, and it features benefits that especially a mother could love. Three in particular.
One is the implementation of usernames in place of alphanumeric addresses. Usernames
that can be used over and over again, say, placed on business cards or on websites, and
yet, each new payment will land in a separate address, maintaining the user’s privacy. Second is the availability of services that
people are used to, such as password resets and easy accessibility of backup information.
These services will be made available from a completely decentralized class of service
providers, who pull information from the Dash blockchain using the world’s first decentralized
API, or DAPI. And the user information they pull will be stored in Dash’s new storage
mechanism on its blockchain, entitled DashDrive. And third, and perhaps most important when
transacting with strangers online using magic internet money, is the ability to rate transactions
and to seek mediation in the case of a dispute of a transactions. It sounds magic. It sounds fantastical. Maybe
even impossible. But you can check all of the documentation out for yourself, if you
like, at Dash.org/Evolution. Dash is heading in such a fantastic direction
to offering digital cash to everyone and their mother, in fact, that this show DASH: Detailed
has been created for the sole purpose of tracking its progress and bringing that back to you.
DASH: Detailed will come to you with a new episode every Wednesday, which I am only too
keen to get into your inbox, should you like. If so, send an email to [email protected] with
the word “subscribe” in the subject line. And I look forward to seeing you this Wednesday,
and all of the Wednesdays to follow. Have a nice day.