How to do Online Payments without Internet?

Lebedev

Lebedev

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Jun 26, 2018
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Internet affect our lives quite a lot, it makes everything what we were doing before to do a bit more easier, a bit faster and a bit more qualified than we used to. This is also true when we're talking about the payment systems. Comparing with the standard banks, where you have to go to office and wait quite a time to get a card, which will be very pity lose, modern payment services offer an easy registration process and lower fees. The most perspective of today's payment systems is bitcoin, that gives you benefits of anonymous and almost free transactions world-wide.

However, all the online payment systems need access to the internet in order to work. Unless we consider them to do so, while in fact it is possible to send money in online payment systems without internet.

The first Bitcoin transaction send by radio took place in Canada, where there probably wouldn't be blackouts or some problems in work of the internet. But crypto enthusiasts decided that it was just the right time to prepare to these situations. They have sent 0,01 BTC using low wave radio and JS8Call protocol.

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Bitcoin full dependence of the internet considered to be one of the biggest problem of a technology as serious as the network scaling and 51 attack. How the recent experience shows internet isn't free at all: government can pass a law that make it possible for them to turn it off when they think it is needed for the information security of a country - this what happen in Russia and is happening in some European countries, while in rest of the world there are no reasons required to shut the global web down - how it has been going in South America and Africa.

What is more, the first known offline transaction was the international one. Money have been sent from Toronto, which is Canada to Michigan, US. The transaction has accomplished such a long distance through the snow storm. Obviously, this is a very bad way to do transaction, however, it is important to know that all of us have a chance to use crypto despite what happens in the world.

Doing payments in bitcoins using nothing, but your mobile network is very popular in Venezuela, where an electricity blackout has been taking place regularly for the last time. From 8 to 14 March during one of the longest blackouts citizens of Venezuela started to use SMS to do transactions.

Because there was no electricity bank offices and ATM stopped to work as well as any other devices, people had no access to their money and were unable to use them.

Fortunately, a service called Cointigo helped people to send money inside the Bitcoin network, simply creating transactions using SMS having no access to the internet.

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How to LocalBitcoin agency informs people were doing 40% less transactions during blackout. But as soon as electricity came back there was the same amount of transactions as it used to be. By the way, at the moment usage of bitcoin is extremely high in Venezuela, being under political and economic sanctions living in a crysis more and more people starting using cryptocurrencies as a daily way of payment.
 
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dragon4life

dragon4life

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Sep 15, 2019
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This is really interesting. I hope they develop this platform using low radio waves. It will be beneficial if the government decides to ban the internet or the internet stops working due to other causes. Just today I came across a article that the banks in Canada were freezing accounts that were buying Bitcoin.
 
Pennywise

Pennywise

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May 25, 2020
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A very interesting concept indeed, hope they develop and expand it further.
 
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