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BitCart announced a new wearable offline wallet for Dash, Festy, geared for easy payments at festivals.
The Irish startup, which allows users to buy discounted Amazon gift cards with Dash, is developing the wristband wallet in order to solve the major issue of purchases at festivals. According to BitCart CEO Graham de Barra, this targets the younger generations and eliminates the need for carrying, and potentially losing, valuables:“Festy’s multi-functional wristband is compatible with every Point-of-Sale system where Visa contactless is accepted, as well as on any mobile phone or computer with NFC tags and offline payments using QR codes. This versatility is adaptable to any environment including fields, beaches, camping sites as well as bars, restaurants and conferences. Festy is an affordable, scalable, and secure payment solution, particularly for millennials and Gen Z who don’t want to carry or worry about their wallet, handbag, cash or backpack at every moment during their social calendar.”
The platform will also offer a fiat conversion option, so merchants will have the option to not hold Dash if they choose not to. The prototype for Festy will be unveiled Friday at the Opera Incubator in Cork, Ireland. Wide release is scheduled for the end of Q3 of this year.
Leveraging Dash to dramatically reduce fees and risk
In addition to making payments convenient for festival goers, Festy also improves the experience on the merchant’s end of the equation. By using Dash, payments are both instant and permanently settled, and far more inexpensive than traditional payment methods, according to de Barra:“Our partnership with Dash makes the perfect payment solution for everyday transactions. Unlike existing traditional bank payments that take a 2-5% fee, there is no cost on receiving Dash for merchants. Merchants acce...