Two days before the 2014 Bitcoin International Conference kicked off in Rio de Janeiro, Brazil, Coinapult joined forces with 37 Coins to launch a new bitcoin transfer service using SMS cellphone messaging. The two companies seek to expand the use of bitcoin to populations without smartphones or access to contemporary banking methods.
Bitcoin users worldwide are now able to send and receive payments, as well as view their transaction history, with a basic cell phone.
“Using good, old-fashioned text message, this service has the potential to impact four billion people worldwide living without smartphones. This is a welcome tool for the remittances market,” explained Coinapult in a press release.
Ira Miller, CEO of Coinpult, claims that people with the least resources will benefit most from this technology. However, as of now, this service runs through a third-party business located in Canada, meaning anyone interested in sending bitcoins must pay international taxes on bitcoin transfers.”
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