China's attempts to ban crypto highlight need for blockchain equivalent of GPS

While China is busy trying to eradicate cryptocurrency trading from its shores some of the many crypto billionaires should be thinking about how best to protect their investments. It seems to me a great thing that could do would be to invest in a cryptocurrency (or just blockchain in general) equivalent of GPS so that people anywhere in the world can trade cryptocurrency without their local governments interfering. This would make threats and chest beating by countries like China futile. We would not have endure huge $400 billion sell-offs because half the world's market for crypto got shut off by their leaders.

How would such a system work? By launching a huge swarm of low-cost satellites that can relay low bandwidth messages - which is all you need to broadcast a few transactions to the rest of the worldwide network. Since most people have access to terrestrial Internet even if there were thousands or millions of transactions per second most would not need to go into space nor would they need to be broadcast in milliseconds. If it takes seconds to send a few hundred bytes or even K bytes to space so be it. At any one time you could expect dozens if not hundreds of satellites to be visible so spreading your transmission across them would be possible to.

Fortunately, there are people working on things like this - mostly for more altruistic reasons. One example is OneWeb who plans to start launching satellites this year. However one could argue that blockchain access for everyone is also very altruistic. It can give people around the world access to unfettered currency, to identity systems, to any number of decentralized applications that can enrich their lives.