SMS service allows you to send bitcoin in a text message

«A person who literally has no access to the Internet can go from not having bitcoins to owning a VTC and then start spending them,» explains South African developer Kgotatso Ngako.

The innovation using a cellular network (GSM) could attract millions of users who previously could not use it due to the internet-dependent bitcoin protocol. The new SMS service created by Ngako is called Machankura, a South African slang word for money.

The developer explains the algorithm: users dial a number and then get to a menu where they can learn more about bitcoin or register an account. «All you need to register an account is a 5-digit PIN, and from that point on, you will be offered another menu: sending and receiving bitcoins,» — the programmer notes.

Ngako emphasizes that the South African government has a negative reaction to cryptocurrencies and bitcoin in particular. In addition, the service is custodial, which contradicts the principles of bitcoin «not your keys, not your coins.» So Ngako is looking for a way to use SIM cards as private keys.

The programmer hopes that bitcoin via text messages will bring money to millions of Africans.