Venezuelan Team Develops Decentralized Bitcoin Network

A Venezuelan team is working on the development of a decentralized Bitcoin network that ensures access even when users are offline.

The idea of developing Locha Mesh, a system based on radio waves, is to overcome the severe economic challenges in Venezuela which suffers frequent internet and electricity outages.

The project is led by Randy Brito, founder of Bitcoin Venezuela.

“We are making something for the situations where you don’t have Internet at all, either due to lack of infrastructure, targeted censorship or in case you want to be completed anonymous so you don’t want to expose your home/phone IP address that is linked to your identity,” Brito said.

He added that his team aims to make the open-source system as affordable as possible.

“It will be possible to buy them from any country, in places where it cannot be shipped to we’ll have plenty of documentation so people can build their own, and maybe some individuals would like to get some of our Turpial devices into those places we may not be able to reach ourselves,” Brito said.

It was earlier reported that the Venezuelan government has ordered all airlines to pay for fuel using the ‘petro’. The move will help the country to become one of the leading digital economies, at least in South America.

However, it is not clear whether the decision applies only to the airlines flying from Simón Bolívar International Airport or the other airports in the country. Moreover, it is uncertain if the decision applies only to local airlines or also includes their international peers.  

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.