"The key to our success is to build merchant and user redemption," says Jackson Palmer

Dogecoin creator urges retail adoption

The creator of Dogecoin is urging wider adoption of the cryptocurrency by businesses and consumers.

Speaking at the first Dogecon SF conference, Jackson Palmer (pictured) said: "The key to our success is to build merchant and user redemption.

"We need to encourage more small businesses and big businesses to start adopting Dogecoin as a form of payment.

"We need to build demand for people that want to pay using Dogecoin."

The cryptocurrency, launched in December 2013 as a novel currency based on the popular internet meme Doge, has since become far more than just a joke, with daily transactions made in DOGE almost doubling the arguably more well known cryptocurrency Bitcoin in January. The total amount sent in DOGE each day is estimated to be in excess of £6.1 million.

Dogecoin has also been championed as more charitable and community-based than Bitcoin, with the digital currency used to raise money for a children’s service dogs charity, send the Jamaican bobsled team to the 2014 Sochi Winter Olympics and sponsor an underdog Nascar race driver.

Palmer also criticised the focus of other cryptocurrencies on their value in traditional currency during his keynote speech. One DOGE is currently worth £0.0002734.

"Unfortunately, a lot of communities around cryptocurrency, that’s all they care about," he said.

"I don’t wake up every day and wonder about what my paycheck is. You shouldn’t wake up every day and worry about what Bitcoin or Dogecoin is in US dollars.

"We need to keep up the fun community spirit we have. We need to never lose sight of the fact that there’s a dog on our coin.”

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