The U.S. startup Blockstream has been a mystery to many in the Bitcoin space since its inception in 2014. Among its founders is Adam Beck, inventor of hashcash, which pioneered the concept of proof-of-work that is key to the Bitcoin consensus algorithm.
While the company has raised $76 million USD over the past three years, Blockstream made waves publishing interesting and highly technical concepts. However, it does not seem to have any products currently in production, or even customers. It’s only marketable product, “Liquid,” is still in an “early access” stage and does not seem to have been implemented by any Bitcoin institution.
The mystery around what exactly Blockstream is building and developing cleared up a little on August 15. That day, the company announced Blockstream Satellite, a service they had quietly been working on for the past few months. It aims to beam Bitcoin data all across the globe, including China.
While that might sound innocuous enough, the service could give Bitcoin a new way to circumvent the country’s strict censorship regime and take power away from the country’s national bank.
Full story at http://bit.ly/2wbDNHh
Source: Forbes
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