According to reports, a recent innovation with a cellular network could allow millions of users to trade BTC. This includes those who could not use BTC due to a lack of internet connections.
The latest technology does not use a data connection to operate. Kgothatso Ngako, a developer in South Africa, has developed a tool called Machankura. Machankura, which means money, is an SMS-based service that allows users to send and receive BTC.
Machankura Allows Users To Send BTC Without Using The Internet
Kgothatso Ngako, popularly known as KG, told Cointelegraph that he is fascinated with BTC. Also, he hopes to allow more Africans to send and receive BTC Via text.
Meanwhile, he worked as a software developer at South Africa’s Council for Scientific and Industrial Research (CSIR). In another interview with Cointelegraph, Bitcoin Mtaani founder, Master Guantai, said the number of mobile devices in Africa is twice the population.
Unfortunately, the number of internet-enabled smartphone users is still low. Hence, most Africans use their smartphone to text one another.
According to KG, using this feature can increase the adoption of Bitcoin in Africa. The first thing KG developed was exonumia, a translation program for African languages.
This program provides BTC-related education in several languages for Africans. It also teaches them about money and to improve their standard of living.
Furthermore, KG also explained the working mechanisms of the tool. After dialing a number, users are sent to a menu where they may learn more about BTC or create an account.
All that is required to create a profile is a 5-digit pin, after which users are given the option to send or receive Bitcoin. Also, the individual’s phone number will function as the Lightning address.
Paxful Shows Interest In The SMS-based Tool
Meanwhile, Machankura has merged with Bitrefill, a well-liked prepaid gift card provider for BTC in Africa. In addition, South Africans can now add funds to their Lighting Wallets with money from food stores. This is due to a collaboration with the voucher service “One for you.”
Master Guantai further states that it has already been successful in six African nations. Guantai adds that major exchange Paxful has expressed interest because of how simple it is for users to sign up via GSM.
Meanwhile, KG highlighted some challenges with the new tool. One of them is the government’s stance on cryptocurrencies such as Bitcoin.
Also, the voucher fees for using the service could scare people away. Another problem is the partnership with a centralized company to conduct the Bitcoin transactions since it is offline.
The centralized company may not know enough about cryptocurrencies and how to use them. Additionally, it would operate as a custodial service.
This is against BTC’s operation, which says, “if it is not your keys, then it is not your coins.” Hence the developer is looking for how to make SIM cards serve as private keys.