Following $101 million raised by Blockstream from Kholsa and other investors, Bitcoin can now be streamed from space via 5 satellites orbiting around earth.
With this development, a new API has been implemented which will facilitate the sending of encrypted messages from the most remote parts of the earth and payments made in Bitcoin using the lightning Network
“Bitcoin has always been about uncensorable money, and now we have uncensorable communications as well.” Blockstream CSO SamsonMow
This launch makes it the 5th from the start up company. The service is however, still in the beta testing phase as reported by Forbes but it had already been available across Europe, Africa, North and South America.
It is also expected that this move will free the dependency of Bitcoin and similar digital assets on the Internet and will also power up the security level on the Bitcoin network.
Blockstream’s Satellite covers the entire globe, except for the remote regions of Greenland and Antarctica. The CEO of Blockstream is confident on what this move will bring within the space as he said
“You could set up a bitcoin mining operation in the middle of the desert powered by solar,”
The company also strives on helping 3rd world countries and countries experiencing crisis by bringing Bitcoin to their door step. They also strive to come to the rescue of the unbanked, though they believe the impact of this can’t be seen immediately.
“We see the increased robustness of the bitcoin network and the lower cost of participation contributing to helping business rely on the service for backup, and for emerging markets to use as their primary access to the bitcoin network at a lower cost.”
Nevertheless, the launching of Bitcoin relay satellites is not something new, as Bitcoin pioneer Jeff Garzik’s BitSat ventured into this in 2014 though the initiative has since died down.
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