In less than a decade, Bitcoin has gained impressive adoption and is now at the heart of innovation, leading the way in defining the future of money. To accelerate this future, Blockstream is happy to announce the Blockstream Satellite – another step in the journey for everyone on the planet to join Bitcoin.
The Blockstream Satellite is the first service in the world that broadcasts Bitcoin transactions in real time through a group of satellites in space. With the service, everyone will have free access to the Bitcoin network, anywhere in the world, including the four billion people currently not connected to the Internet, due to lack of availability or accessibility.
At launch today, Blockstream Satellite is now available on 2/3 of the Earth; And it will reach global coverage – for everyone on the planet – by the end of the year. As more people access Bitcoin’s Blockchain with Blockstream Satellite, we expect to see even more adoption and use cases for Bitcoin as well as a strengthening of the overall robustness of the network.
Bitcoin disrupts and improves conventional systems
Since its invention in 2008, Bitcoin has captured the imagination and enthusiasm of innovators, investors and technologists around the world; These futurists see the value of a digital currency and payment system that is not controlled by governments, banks or companies , but rather where each user directly owns their money.
Consider the limitations of traditional financial systems, such as conventional currencies. For centuries, coins were issued and administered by governments, and the people who used them had little or no control over how their finances operate. From time to time, the coins failed completely, leaving the people who trusted them in their hands.
Read also Bolivar Venezuelano becomes worth twice less than “virtual currency” of the game “World of Warcraft”
Venezuela is an example. Earlier this year, due to Venezuela’s economic collapse, hyperinflation made a note of 100 bolivars worth a little more than a US dollar. Today, the volatility of Venezuela’s currency continues.
Currency crises such as these are pushing more people to Bitcoin because it offers people more freedom and control over their money in an uncertain world.
Consider other legacy financial systems. The online banking system, credit cards and PayPal have benefits, but are still controlled by institutions that can place limitations and restrictions on their use. The Bitcoin dissolves these controls, allowing people to pay any person safely , without having to open a bank account, get a credit card or work or rely on centralized intermediary.
The growth of Bitcoin brings new values, a new ideology and a new use to the world . It is decentralized, fed by the people who use it. It knows no frontiers, it is not a legal entity, and nobody controls it. With Bitcoin, no one needs permission to negotiate with another person or company; We simply transact as we see fit. This gives consumers, traders and even entire economies more choices.
Blockstream satellite makes Bitcoin even more global
As the Internet has revolutionized communication, commerce, publishing and other industries, Bitcoin is revolutionizing money and value transfer. Built on peer-to-peer technologies , it’s inherently digital , free from central control and without permission. It will empower and connect users, equaling opportunity and access and creating long-lasting value in the long run.
Remember: The Internet was not built in just one day.
For Bitcoin to be truly transformative, it must be everywhere, available to everyone , and this is what we have helped to make possible with the radically reduced cost of Bitcoin network access to the Blockstream Satellite – an adoption tool in