The bitcoin / blockchain revolution has undoubtedly arrived. Cryptocurrency enthusiasts will no longer need internet to transact with their digital coins. And while hundreds of startups and companies are trying to disrupt the level-playing field of blockchain services, one firm does it on a whole different level.
Blockstream, a “pioneer in Bitcoin and blockchain technologies”, which has raised more than $100 million from leading venture companies, has launched five bitcoin blockchain satellites that are positioned in such a way as to reach all parts of the world that currently uses or can use digital currencies.
The satellite service, while still in testing mode, has already been available in major strategic parts of the world, including the US, Europe and Africa.
According to the Forbes’ article on the product, users will also be able to send to each other encrypted messages wherever they are positioned. For example, thanks to the new API that Blockstream has recently launched, someone in Africa will be able to send an encrypted message to someone in the US, without the need of internet access. The payment scheme for such a feature will be through bitcoins.
Before adding the fifth satellite, Blockstream had four, which covered Africa, Europe and North and South America. Now, the fifth satellite will help the Asia-Pacific region join the bitcoin blockchain “party”.
The ambitious project aims to bring the cost of transacting with bitcoin to a lower level, free users from the need of internet access and maximise security as much as possible.