Bitcoin can be sent via SMS

A new app that is meant to oppose Internet censorship is announced
22 January 2018   813

A group of developers of a bitcoin-wallet Samourai, prioritizing privacy above all, has announced a unique app Pony Direct. It allows sending transactions to the Bitcoin network through SMS.

In a modern world, blocking access to the Internet based on a plethora of reasons becomes a censorship tool. In order to ensure a continuous flow of transactions, a solution that uses SMS to bypass such restrictions was realized. Considering the nature of an SMS to have a limit on symbols, a datachain of a transaction is first divided into corresponding parts to fit into multiple SMSs, the messages get sent and the receiving device that has a direct access to the Internet extracts the data from the SMSs and re-assembles the chain. Then, the recovered datachain is pushed into the Bitcoin network.

The idea of using SMS is not brand new: in summer of 2017 a Czech developer Pavol Prusnak created a tiny software that allowed transacting by means of SMS. The real difference of the announced product is that it is a full fledged bitcoin-wallet. The first readers of the announcement have warmly welcomed the project.

Lastly, following the team’s spirit of open source, everyone is free to check the app out by accessing the Github project page directly.

German Exchange to launch Bitcoin Products

Deutsche Boerse, the Frankfurt Stock Exchange holder, is deciding about the providing cryptocurrency products
24 May 2018   77

Reporting in London on Wednesday, at a significant event of the sphere, Jeffrey Tessler (the firm's chief of customers, products and core markets), declared: "We are deep at work with it." Nevertheless, any move into the crypto space from the stock exchange might not be forthcoming fast. When CME Group and Cboe Global Markets both started bitcoin futures trading last December, Tessler further claimed during the event that Deutsche Boerse is "not at the same stage." According to his point of view, the company is attempting to understand the volatility of the bitcoin market first and insuring clients and regulators are "in line" before stepping ahead with any offerings.

Whilst a move into offering bitcoin products is not definite, the exchange has already been active in the blockchain field. Deutsche Boerse unvealed details to CoinDesk about its plan to move the majority of its post-trade services to a blockchain last June. It affirmed at the time that it was interested in building a system, using Hyperledger's open-source Fabric protocol, in order to transfer securities and move commercial bank money, while still undertaking cross-jurisdictional compliance with regulators.

Also, as recently as March, the group declared it wish to deploy a platform for more operative securities lending using R3's Corda blockchain tech.