Bitcoin satellite transfer: this future is nearer than you might imagine

Bitcoin enthusiasts who live in the regions with unstable economy and poor Internet will have an option to use cryptocurrency ‘delivered’ by a satellite. An ambitious project, Blockstream Satellite, is announced on the website of Blockstream company that’s widely known in cryptocurrency community.

The gist of this project is to set up working Bitcoin nodes that contain all network transaction data on the company’s satellites. The beta version has already been launched in Europe, Africa, North and South America.

Those who would like to use the innovative technology will just have to get a satellite antenna (the existing TV dish can do the trick), own a PC that is connected through USB or special devices to the satellite (the SDR technology is used) and the free open-source software. The required equipment will cost about 100 USD. Apart from Internet-backed transactions some other tech features will also be available, e.g. SMS or the bidirectional satellite equipment.

The CEO of Blockstream Adam Back noted that this project is going to help those people who are in a dire need of some new way to work with Bitcoin.