Gaming Market Insights Series #10: Dominican Republic — 
Return to the new beginning

In 2015 Dominican Republic recorded Internet penetration rate of 49.2%, an increase of 11% compared to 2014, which is conducive to growth of online and mobile industries in the country.

Mobile payment

Thanks to the strong growth of the Internet and tourism in the Dominican Republic, mobile payments have huge potential in the country. Electronic transfer is one of the most common means of payment in e-commerce in the Dominican Republic, however it also presents major challenges, especially for businesses that handle high-volume transactions.

The most popular payment methods to facilitate e-commerce in the Dominican Republic are via mobile phones, specifically in the service of tPago Net of the Dominican company GCS International. Users can pay bills and bank loans, do electronic transfers between banks, pay in shops, top up phone credits without data plan and conduct online payment in online stores with tPago Net.

The groundbreaking in Bitcoin

Bitcoin, as a currency, is legitimate in the Dominican Republic. Use of the virtual currency is quite abundant with several traders offering exchange services from Dominican Peso to Bitcoin. The cryptocurrency is also accepted for payment at several establishments. There is a Bitcoin ATM available now located at Tattooarium Tattoo Studio in Santo Domingo, once claimed huge excitement for Bitcoin and cryptocurrency fans in the country. Although the country has been quite Bitcoin-friendly, other services around blockchain and cryptocurrency have not been proliferated up to their potential.

The country’s adoption and familiarity with Bitcoin is the ideal threshold for future investment and opportunities in online and mobile businesses which deploy blockchain technology and cryptocurrency. Specifically this is the fertile soil for industry leaders to tap in the prospering economy and tourism industry of the Dominican Republic.

ABOUT REPORT PUBLISHER
The report is prepared by CARDANO Labo — the leading blockchain research and development startup focusing on blockchain-empowered gaming and entertainment services. We are keen on bringing this technology to a broader audience where people will have better access and opportunities to enjoy their lives through unprecedented technical solutions.

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English: Nicole Nguyen (thanhnth@cardano-labo.com)
Japanese: Muuto Morikawa(muuto.morikawa@cardano-labo.com)