Bitcoin satellite node in Venezuela provides the region with always-on access to the Bitcoin network
Panama City: Cryptobuyer, a startup providing Bitcoin services in Central and South America, today announced the installation of the first Bitcoin node connected to a satellite network within Venezuela. This important piece of infrastructure bypasses the need for local internet connectivity for Bitcoin users in the region.
The Bitcoin satellite node is connected to the Blockstream Satellite network provided by Blockstream, a Bitcoin infrastructure startup. The satellite node was deployed by AnibalCripto, a provider of cryptocurrency training courses, with assistance from Álvaro Pérez, a Valencian programmer. Financial and logistical support was provided by CryptoBuyer.
“We downloaded the whole Bitcoin blockchain and successfully carried out the first transaction through a Bitcoin satellite node in our country on 23 September, from the city of Valencia,” said Álvaro Pérez. “We received bitcoin through the satellite connection without any internet connection. It was a moment of great achievement.”
“This project emerged from our company’s vision to offer real and tangible products that solve real-world problems,” said Jorge Farias, CEO of CryptoBuyer. “For example, we already deployed Bitcoin ATMs and Bitcoin point-of-sale terminals across the region, and also launched a fiat-crypto exchange platform. Now with the Bitcoin satellite node, we address the local issues of internet connectivity in Venezuela. Users can’t afford to be cut off from the Bitcoin network!”
The launch of the Bitcoin satellite node is an important first step in an alliance between Cryptobuyer and Blockstream in Venezuela. Installation of additional nodes will continue in Caracas (the capital) and Bolivar state (in the south of the country), with the goal of offering coverage for the entire country. Bitcoin users within the vicinity of the satellite nodes will connect through local mesh networks for which the equipment is already being tested in the country.
“Having a 24/7 always-available digital money system independent of local internet infrastructure is now a reality,” said Anibal Garrido, CEO of AnibalCripto. “With this development, we are no longer subject to requirements such as the use of an Internet Service Provider (ISP), which may attempt to break the principles of privacy and decentralization that are the foundations of this cypherpunk technology.”
Cryptobuyer will also continue to work closely with Blockstream to leverage the experience and technology of the company, founded by world-renowned cypherpunk Dr Adam Back, in other projects. For example, accelerating the adoption of Bitcoin in the region by delivering efficient trading products through Blockstream’s sidechain technology, the Liquid Network.
Cryptobuyer is a fully working ecosystem based on digital assets focused since 2015 on providing real solutions for the daily use of Bitcoin and Cryptocurrencies. It was the first company in the world to install a Bitcoin ATM in a commercial bank and today it operates thousands of cryptocurrency points of sale in Latin America, including large chain stores, restaurants and supermarkets. The company is in an aggressive expansion plan that positions them as leaders in real use cases, especially impacting the unbanked population and offering financial inclusion in one of the regions of the world with the highest adoption in the use of cryptocurrencies.
Blockstream is the global leader in Bitcoin and blockchain infrastructure. Blockstream’s sidechain technology (Liquid Network) enables faster Bitcoin settlements while empowering financial institutions to tokenize assets. Blockstream Mining provides enterprise-class mining facilities for the colocation of Bitcoin mining operations. The Cryptocurrency Data Feed, developed in partnership with Intercontinental Exchange, delivers best-in-class real-time and historical exchange data. Blockstream Green is the world’s most advanced consumer Bitcoin wallet. Blockstream was founded in 2014, with offices and team members distributed around the world.
About Blockstream Satellite
Blockstream Satellite broadcasts the Bitcoin blockchain from space, providing everyone in the world the opportunity to use Bitcoin, regardless of their internet connection. Through the Blockstream Satellite API, individuals and businesses are also able to make their own private broadcasts over the satellite network, with data usage paid for in bitcoin via Lightning Network.