Finland launches bitcoins-by-air pilot project
Finnish quasi-national cryptocurrency FIMKrypto has struck a partnership deal with Koodilehto, a Finnish software company, in order to launch world’s first development project that aims to broadcast cryptocurrency transactions through national TV broadcast network in real time.
The technology, coined Kryptoradio, enables merchants and consumers to receive real time P2P network transaction data with any standard Digital TV device and custom software without the requirement of Internet or mobile network connection.
The broadcast transaction data consists of Bitcoin and FIMKrypto transactions, which are encoded and forwarded to the network of Digita, the Finnish national terrestrial TV operator. The broadcast covers 95% of the Finnish territory of approx. 5 million people. The technology, once completed, will be portable to other countries worldwide.
The pilot broadcast project starting from September 1 lasts two months, after which commercial production phase is planned to begin later this year.
FIMKrypto (FIMK) is a cryptocurrency launched in early July by non-profit association Krypto FIN ry. Prior to FIMK’s launch the association received 533 Bitcoins (approx. 250 000 EUR) in donations from domestic and international donators. The association coordinates the FIMKrypto project and organizes a national basic income plan paid in the cryptocurrency.