Yes. You read that right. Blockstream, a startup which received more than $70 millions so far in investments, announced today the availability of the Bitcoin satellite.
Blockstream Satellite is the world’s first service that broadcasts real-time Bitcoin transactions and blocks from a group of satellites in space. With the service, everyone will have free access to the Bitcoin network, in any corner of the world, including the estimated four billion people not currently connected to the Internet, due to lack of availability or affordability.
What's even more interesting than that is that you don't even need internet for that.
Blockstream Satellite reduces bitcoin’s dependency on internet access. By broadcasting the blockchain to the entire planet via satellite, anyone in the world has an opportunity to use bitcoin.
How this is possible? Well, it's quite a complex setup, but I'll try to shorten the (already) short tutorial on the Blockstream website for you:
- Blockstream Satellite ground stations, known as "teleports", participate in the bitcoin network and transmit blocks to geosynchronous satellites.
- Geosynchronous satellites, orbiting at an altitude of 35,786km (22,236mi), receive the signal from the Blockstream Satellite teleport and broadcast it across a wide portion of the Earth.
- Anyone in the coverage area with a small satellite antenna and an inexpensive USB receiver can receive these blocks and ensure that their node is always in sync.
- Additionally Blockstream Satellite teleports also receive blocks from the other Blockstream teleports throughout the world to ensure the teleports themselves do not become partitioned.
- The entire satellite network forms a ring around the planet to ensure the bitcoin network is stable throughout the world.
Oh, and more thing, the price tag for participating in this game is around $100.
My first reaction when I read this was to check the calendar. It was August 15th. Not April 1st. Because this kind of "news" is what you get on April fools days, when you learn that some people safely landed on the Sun surface, or something. In my opinion, this thing is absolutely huge.
Huge.
For more details, please check the Blockstream site.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me 
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