Despite the hype over cryptocurrencies in the last years, crypto assets still have a lower market cap than other fiat currencies – $2 trillion, according to CNBC.com. And just the USD alone has a market cap of $30 trillion.
Why is this happening?
If we look at how crypto transactions work, we will see that they all have one thing in common – they happen online.
But that’s the thing. According to Statista.com, in 2019, just 51.4% of the global population had access to the internet, meaning 48.6% of people can’t use cryptocurrencies.
Or so it was. Until AlloHash entered the game.
What is AlloHash?
AlloHash is a crypto project that aims to expand blockchain adoption by making crypto transactions offline.
This will not only make blockchain technology accessible to anyone, but it will also increase the transaction speed by not having to deal with network traffic.
To make this possible, the team behind AlloHash included the Call IVR SYSTEM and SMS programming options – which are available even on old Nokia phones or Phone Cabinets.
So nobody is left behind.
How does this work?
First of all, users will be provided with a virtual phone number representing their crypto wallet. So when you send cryptos to a phone number, you actually send them directly into an account.
The transaction is done instantly, and you have two options to do it – you either call the IVR SYSTEM or just send a message. It depends on how extrovert you are and what kind of phone you use.
If you choose the call service, the process will look like this:
- You call the AlloHash and then say your password for authentication;
- You type the phone number of the receiver and the amount of crypto you want to send;
- The IVR SYSTEM connected to AlloHash will perform the transaction;
- The recipient will receive a call that notifies him about the transaction.
If you choose the second option, all you have to do is send an SMS with the amount of crypto you want to transfer, the receiver’s virtual number, and your password.
The SMS will look like this, for example: Send 0.1 BTC to +12348769 PIN GOOGLE2FA”.
These services can be used for any kind of crypto transaction – whether it’s about sending money to your friends or just paying your merchant. You can send, swap, or trade your assets with your partner or even make a deposit without any kind of internet connection.
So what’s stopping you? Get your offline solution and be one of the people who will make faster crypto transactions possible!
Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.