This solution will expand the usefulness of blockchain in currency transactions, smart contract execution and supply chain tracking, all with no internet connection at the time of the transaction.
Consumer demand for digital transfers have increased at an exponential rate, and while companies have raced to scale to these demands, one fundamental flaw remains. Without constant internet connection, these systems fail.
ByteBlock has solved this problem by offering a unique, patent-pending solution using paired devices, blockchain and mesh networking.
All a user needs to do is pair a smartphone with a Smart Card or special storage device to validate that a transaction has taken place
Smart Card providers can update to ByteBlock and offer secure peer to peer transactions for their customers when paired to a smartphone.
Point of Sale terminals that update to ByteBlock can accept Online or Offline transactions from Smart Cards that updated to ByteBlock.
POI allows each paired device to mine its own tx’s, and rewards them at a scaled rate related to how much offline transactional data it contributes to the online network.
The internet, as we know it today, is a massively complex system of data transfer that has ushered in a new era of communication. Behind its complexities lie vast networks of information flowing between committed nodes, with computers and smartphones serving as access portals for users to experience the global web. Though it makes up a backbone of daily lives now, it wasn’t always this way. Efficient networking and packet transfer systems were designed in recent memory, and the “World Wide Web,” as users have grown accustomed to calling it today, was but a handful of research laboratories only decades ago.
Each hurdle to adoption has been solved in turn by some of the brightest minds in science and mathematics, often with funding and oversight from forward-thinking governments and militaries. Each iteration has grown the scale of the internet to levels unthinkable by some even in recent memory. From early “Hello World” tests, to live video, the internet has become one with consumers, furthering our appreciation of technology, and shaping our society.
Though the internet has caught up to the pace of our everyday lives, and even surpassed them in certain cases, it is only as strong as the relays that connect it. Its power cannot expand past its physical limits, and ceases to exist in “dead zones.” With a growing amount of users transacting highly sensitive data online, up-time becomes critically important. “offline” transaction models, until now, force users to hope that their transactions are valid, pushing risk factors to all-time highs.
As many major tech companies race to figure out how to expand their functionality online, none have been able to crack the code of real-time, secure, internet-free transactions. This significant challenge has finally been solved, and a new era of internet awaits.
ByteBlock offers (off-line to off-line) data transfers with online asynchronous ledger reconciliation.