Dash LatAm, an organization focused on promoting use cases of the Dash cryptocurrency in Latin America, has shut down over a lack of funding.
According to a Medium post published by its founder George Donelly, the organization had to be shut down by Dash Core after its latest round of community funding was rejected by the cryptocurrency’s community.
Dash allocates 10% of its block rewards to its Treasury, and the funds within it are used on projects that masternode operators approve of via a Decentralized Autonomous Organization. Dash LatAm’s funding proposal was looking to raise a total of 344 Dash (nearly $25,000) to fund its team of over 80 people.
As the project didn’t receive funding it’ll have to shut down its operations, which promoted Dash use cases such as remittance payments and basic financial services for the unbanked in various countries including Colombia, Guatemala, Venezuela, Peru, Brazil, and Ecuador.
In his post Donelly wrote:
Dash Core has warned us that Dash LatAm's operations are definitely not going to continue. This means that there will be no more promotions, events, buybacks, support, etc. in the 8 countries and 20 cities where Dash Latam was active.
While the organization shut down it’s worth pointing out there are other cryptocurrency-related projects looking to promote crypto use cases in the region. EatBCH, for example, serves people in Venezuela, serving hot meals throughout the country at a time in which it deals with hyperinflation.