Venezuela obtains a Bitcoin node (BTC) accessible by satellite through the Blockstream network
Venezuela has recently legalized the mining of Bitcoin Profit and cryptomoney.
The Trust Project is an international consortium of media organizations based on transparency standards.
No internet connection? No problem, Venezuela gets a Bitcoin node (BTC) accessible by satellite through the Blockstream network.
Bitcoin accessible by satellite
Venezuela is one of the countries with one of the slowest internet connections in the world.
AnibalCripto, a startup based in South America, has just launched the first Bitcoin node (BTC) connected to the Blockstream satellite network.
The launch of the node will allow the Bitcoin (BTC) network to be maintained for Venezuelan users without being dependent on a local Internet connection.
The head of the company said :
Having a digital currency system that is always available, 24/7, independent of the local Internet infrastructure, is now a reality.
Users in the vicinity of the nodes will apparently be able to access the Bitcoin network without an internet connection.
This would be the first step in an ambitious project that could help increase the ease of use of Bitcoin in a country with a below average technological infrastructure. The Internet connection in Venezuela is among the slowest on the continent. We also know that the electricity service is failing, leaving large parts of the country without electricity.
Situation in Venezuela
Recently, Venezuela legalized the mining of Bitcoin (BTC) and cryptomoney. Miners were invited to join a “national organization”.
Although Venezuela is known to be very active in the field of cryptomoney, the government has not always been supportive of this activity.
In July 2020, Venezuela banned Bitcoin-related mining operations in low-income neighborhoods with subsidized housing. The authorities denounced excessive energy consumption and did not want to overload the country’s electricity network.
By 2020, the Venezuelan army had seized approximately 315 Bitmain Antminers used to mine cryptomoney.
The country, which is in the throes of a severe economic crisis, leads BTC’s trading volumes in South America.