A company called Blockstream makes bitcoin users no longer need to access the internet to do transactions with the cryptocurrency. The fifth satellite of the company begun to operate by november of 2018 allowing access the blockchain by Asia-Pacific region. This new area expands the actually coverage area that includes Africa, Europe, North and South America. On that way, even in extreme conditions, where citizens lose the access to internet, the bitcoin will still available.
The company also announced a new API to transmit encrypted mensagens. To use the service clients need to pay a tax using microtransaction in the Lighting Network. According to the CSO of Blockstream, Samson Mow, the service have a low cost and accept messages by SMS. It will become easier the synchronization of several systems with the bitcoin’s blockchain, even when have connection problems.
According with Mow, the Blockstream keep developing new services using the rented satellites. Thus, many innovations may arise and further democratize access to the financial system created by cryptocurrencies. The growing adoption shows that the population more and more see the benefits of bitcoin.
The usa of satellites to secure access to the bitcoin network may turn it the financial system more widely available. Accessible in many place where traditionals financial institutions can’t or don’t want to arrive, bitcoin promotes the inclusion of new communities in the global market. Therefore, this cryptocurrency has potential to promote a revolution in the global economy in the coming years.
The start of activities of the fifth satellite in the Blockstream network was noticed by CoinTelegraph.