Bitcoin protocol firm Blockstream announced their plan to transmit Bitcoin literally to the moon using satellite technology putting the Bitcoin blockchain onto satellites with the goal to give everyone in the world the ability to use Bitcoin. “Today’s launch of Blockstream Satellite gives, even more, people on the planet the choice to participate in Bitcoin.”
The satellites operate through the use of ground satellites called “teleports” that transmit blockchain data from those on the ground to those in the sky, which then relay the signal universal across the globe.
Four satellites will be launched above – America, South America, Africa and Europe to give people who are disconnected from the Internet access to Bitcoin. Blockstream plans to add other countries in the future.
The satellites would store all of the blockchain’s transaction data allowing anyone without the Internet to harness the power of Bitcoin presumably using QR codes and paper wallets.
“Today’s launch of Blockstream Satellite gives even more people on the planet the choice to participate in Bitcoin. With more users accessing the Bitcoin blockchain with the free broadcast from Blockstream Satellite, we expect the global reach to drive more adoption and use cases for Bitcoin, while strengthening the overall robustness of the network,” Blockstream CEO Adam Back said talking about how the advancement in technology will change the world.
The satellite uses open source software for its GNU Radio, software-defined radios (SDR), and Fast Internet Bitcoin Relay Engine (FIBRE). When all Satellites are fully enabled, the group expects to use the technology to provide access to Bitcoin all across the globe, according to the company.
A move like this might just give Bitcoin that push it needs to hit a fourth milestone this year as the price heads to $5000/BTC.