Venezuela has gotten its first bitcoin satellite node, allowing users on the ground to receive bitcoin transactions even in the absence of internet.
According to a Medium report by CryptoBuyer, the crypto solutions platform has launched Venezuela’s first bitcoin satellite node, giving the region “always-on access” to the BTC network.
The report claims the infrastructure of the node allows for users to bypass the need for local internet connectivity in order to conduct bitcoin transactions.
The node is connected to the satellite network provided by bitcoin infrastructure startup Blockstream, with the help of AnibalCripto and financial support from CryptoBuyer.
Álvaro Pérez, a Valencia programmer who assisted in the project, said Venezuela’s first bitcoin transaction conducted through the satellite node was completed on September 23.
He continued,
We received bitcoin through the satellite connection without any internet connection. It was a moment of great achievement.
Jorge Farias, CEO of CryptoBuyer, said the project first emerged from the company’s vision to offer “real and tangible products” for solving real-world problems. CryptoBuyer identified the lack of internet connectivity in regions of Venezuela as a barrier for crypto usage, which led to the eventual launch of the satellite node.
AnibalCripto CEO Anibal Garrido called 24/7 access to a digital money system “a reality” and said citizens of the country are no longer dependent upon the use of internet service providers.
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