Bitcoin, for the safety of the user’s financial transaction, will be in space in the near future – this was a proposed idea given by Jeff Garzik who is the core Bitcoin developer and founder of Dunvegan Space Systems. Up to this day, this has not been an idea or proposal any more. A recent business deal gives touches to take a step forward where there will be microsatellites, which will be Bitcoin-enabled.
For the proposed BitSat program, Mr. Garzik has already signed a business deal with the Deep Space Industries, which implies that DSI will have to manufacture 24 nanosatellites for this new Bitcoin program. It is expected that within the 1st quarter of 2016, it would be possible make successful Bitcoin transactions in space using those microsatellites.
BitSat Specs
- Persistent Storage (SSD) – 100 GB
- Temporary Storage (RAM) – 4 GB
- Average Internet for use- 3.2 GB per day for incoming and 5.0 GB per day for outgoing
Additional Sponsors
Mohit Kalra, a Bitcoin enthusiast and business professional, has already donated 2 BTC donation for the BitSat project. Besides, he has also promised to provide additional funds in future. Except this BitSat program, Mr. Mohit has already been investing in Bitcoin for the last one year.
At the present time, comparatively a low fund-raising phase is being undergone for the BitSat program. Any organization or company can place their name in the list of the sponsors for this program. The process is very simple which is to donate a minimum of 1 BTC for this program.
This new BitSat program in space will definitely create a new era for fully protected financial transaction all around the world. Initially, there would be four satellites to run but when all the 24 will be performing; there is possible chance to provide coverage all the parts of the globe.
