After they find a signal, they can instantly connect to BitMesh WiFi and start using it, and pay only for what they have used at the end of their usage with bitcoin.
“BitMesh is the first commercial app to use Bitcoin’s trustless escrow technology called micropayment channels. What that means is that there are no contracts, no commitments, no login screens and monetize your existing devices,” explained BitMesh co-founder and CVO Chris Smith.
BitMesh is currently incubated by prominent Bitcoin venture capital firm Boost VC, and has already presented their prototypes to investors and other panelists. With the help of Boost VC, BitMesh will be introduced to large silicon valley investors and raise funding rounds to market and develop their network.
The company has already attracted several bitcoin entrepreneurs and investors including security expert and the host of Let’s Talk Bitcoin podcast series Andreas M. Antonopolous. He shared his excitement about this project on Twitter, saying “Bitmesh uses bitcoin micropayments to share Wifi in a mesh network. Amazing, have been waiting for this!”