Nick Szabo Developed a Method of Sending Bitcoin Transactions Over Radio

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At the Scaling Bitcoin Conference held at Stanford University, Bitcoin pioneer Nick Szabo and former Stanford engineer Elaine Ou introduced a working method of securely sending Bitcoin transactions over radio signals.

 

Nick Szabo Developed a Method of Sending Bitcoin Transactions Over Radio

Earlier this week, Jameson Lopp, the lead engineer at BitGo and prominent Bitcoin developer, revealed that the presentation of Szabo entailed their successful tests of sending Bitcoin transactions using weak signal HF radio, by operating a Bitcoin SPV client.

 

Similar to the Bitcoin satellite transaction broadcasting technology developed by Blockstream, the settlement of Bitcoin transactions through HF radio signals can be more inefficient in comparison to processing Bitcoin transactions normally, over the internet. However, one advantage of using radio signals and Bitcoin satellites to settle transactions is its ability to reduce censorship and circumvent internet restrictions to send and receive Bitcoin.

 

 

In August, Blockstream, a blockchain and Bitcoin development firm, introduced the Bitcoin satellite technology with a shared vision of eliminating censorship and internet resistance in using Bitcoin as a store of value and a digital currency.

 

Adam Back, the CEO of Blockstream, stated:

Over the past 12 months, an increasing number of governments, authorities, and countries have started to fully regulate Bitcoin as a legitimate currency and currency. Countries like Japan went as far as to declare Bitcoin as a legal currency, encouraging the usage of Bitcoin for payments.




 

But, inevitably, in the mid-term prior to the global mainstream adoption of Bitcoin, a few countries could attempt to restrict the usage of Bitcoin by imposing restrictions on internet service providers to limit Bitcoin transactions. In such cases, the presence of Szabo’s Bitcoin radio transaction settlement technology and Blockstream’s Bitcoin satellite system would enable users to freely send and receive Bitcoin, circumventing government restrictions with ease.

 

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Salau Adeniyi Olayinka (CEP, MCTP,CSCU) is an accomplished Digital Marketer and E-Business Consultant . His passion is writing and sharing of knowledge and meeting people. He intends to use this blog to boost ICT and E-Business Knowledge in Nigeria and beyond.
He is currently the Digital Marketing & I.T Executive for New Creations Properties Limited , a Real Estate Firm in Ogun State, Nigeria as well as the CEO of Fourth Mouse Consulting , a Digital Marketing firm in Nigeria.

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