Thanks to a South African developer, Kgothatso Ngako (KG), one of the largest issues with Bitcoin transactions has been solved. The need for the internet. SMS Bitcoin transactions will disrupt the global financial system.
Using Bitcoin With No Wifi
KG developed an SMS-based service, that he hopes can bring Bitcoin to millions of unbanked Africans. First KG built a language translation service that brought Bitcoin education in over 20 languages. KG set his sights on SMS and text-based services next. In fact, 94% of financial transactions in KG’s home country Kenya, all go through the USSD text messaging protocol already.
The text-based service allows any registered user to send or receive Bitcoin, with no internet! Utilizing the Lightning Network, it is now available in South Africa, Ghana, Kenya, Uganda, Malawi and Nigeria. Bitcoin and blockchain technology are making a real difference across all of Africa.
Africa holds double the number of phones than its population! Although cell phones are popular, internet service can be hard to find throughout the continent. This presents a major obstacle to the adoption of digital assets in the area of the world. In addition, the World Bank believes well over 50% of Sub-Saharan Africa is completely unbanked, making Bitcoin extremely useful.
Bitcoin SMS transactions would be revolutionary. Nearly everyone around the world has a cell phone, even in third-world countries without internet and banks, making SMS the perfect route to bring on mass adoption. These countries, with unbanked citizens specifically, present the biggest use case for Bitcoin and cryptocurrencies in general.
The company to watch for SMS Bitcoin transactions is Kgothatso’s Machankura, translating to “money”. Bitcoin transactions not requiring the internet will revolutionize the digital asset space and rapidly advance global adoption of the new technology.
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