WATCH: Portable Bitcoin ATM Made By Filipino Students
https://pnoyviral.blogspot.com/2015/03/portable-bitcoin-atm-made-by-filipino.html
Filipino never runs out of great ideas. It is inevitable for Filipino to come up with bright and crafty innovations that adds up tot he world's greatest inventions ever made. Right now, a group of Filipino students come up with an amazing invention that can make everyone proud.
A group of computer engineering students from the Polytechnic University of the Philippines Manila creates their town invention, a Portable Bitcoin ATM. The group consist of Valen Barcinal, Eineil Eric Gemzon, Nervin Macaranas and Joshua Zabala comes to choose having an ATM machines to serve as their thesis but never did they imagine that it can contribute as an example of the emerging technology that can impact the society.
The Bitcoin ATM is classified as a one-way ATM. Its purpose is to convert the money bill to Bitcoin only but not vice versa. Its built-in-touch screen displays the instructions allowing the users to make and confirm their transactions in the most convenient way.
The installation process includes a user to allow the machine to scan their QR Coded Bitcoin wallet address on their mobile device and view the current conversion rate. As it convert your physical peso it proceeds to inserting the physical peso through the bill validator until you reach the amount you wanted it to be converted. In the last process, you will be asked to tap the confirmation prompt to continue to go on with the conversion. After checking your Bitcoin wallet for 5-10 minuets, you will see if the amount is credited to your account.
The Bitcoin ATM'S core is programmed mainly using BitcoinJ API and the conversion value was pulled using the Finance and Bitstamp API from Google.
When it comes to its physical security of the said device, it comes with a variety of options. A simple lock is used to prevent the unauthorized access inside the machine and given pin code to access the settings of the Portable Bitcoin ATM system. Further designs will be using SMS modules and alarms along with the solenoid door locks to further improve the physical security of the machine.
Moreover it is highly anticipated that the Portable Bitcoin ATM is aimed to be places in the convenient stores, coffee shops and the likes where people will often come by and surely they will notice the machine and will allow cryptocurrency awareness to be raised.
For more details and information, watch the report by NewsBeat Social here:
Screen shot from newsletter.8layertech.com
A group of computer engineering students from the Polytechnic University of the Philippines Manila creates their town invention, a Portable Bitcoin ATM. The group consist of Valen Barcinal, Eineil Eric Gemzon, Nervin Macaranas and Joshua Zabala comes to choose having an ATM machines to serve as their thesis but never did they imagine that it can contribute as an example of the emerging technology that can impact the society.
Screen shot from newsletter.8layertech.com
The Bitcoin ATM is classified as a one-way ATM. Its purpose is to convert the money bill to Bitcoin only but not vice versa. Its built-in-touch screen displays the instructions allowing the users to make and confirm their transactions in the most convenient way.
The installation process includes a user to allow the machine to scan their QR Coded Bitcoin wallet address on their mobile device and view the current conversion rate. As it convert your physical peso it proceeds to inserting the physical peso through the bill validator until you reach the amount you wanted it to be converted. In the last process, you will be asked to tap the confirmation prompt to continue to go on with the conversion. After checking your Bitcoin wallet for 5-10 minuets, you will see if the amount is credited to your account.
The Bitcoin ATM'S core is programmed mainly using BitcoinJ API and the conversion value was pulled using the Finance and Bitstamp API from Google.
When it comes to its physical security of the said device, it comes with a variety of options. A simple lock is used to prevent the unauthorized access inside the machine and given pin code to access the settings of the Portable Bitcoin ATM system. Further designs will be using SMS modules and alarms along with the solenoid door locks to further improve the physical security of the machine.
Moreover it is highly anticipated that the Portable Bitcoin ATM is aimed to be places in the convenient stores, coffee shops and the likes where people will often come by and surely they will notice the machine and will allow cryptocurrency awareness to be raised.
For more details and information, watch the report by NewsBeat Social here:
Manila: These 4 guys created their very own portable Bitcoin ATM #PHLnbs.io/1Hwyz5u
Posted by NewsBeat Social on Wednesday, March 11, 2015
Source: NewsBeat Social facebook page
