Let's hope so!

So you basically text the details of your transaction to a central service (which you signed up for) and they proceed to send out that transaction for you? So they're essentially offering a wallet service you could control by SMS? I'd say it's not exactly groundbreaking innovation, but assuming security concerns are addressed, this might actually help drive adoption, especially in impoverished countries. I know I'd love to try it out.


Where did you get this figure? Are you referring to the SMS service or the Bitcoin network in general?

This isn't revolutionary though in a way, it can somewhat be useful given that there are still constraints regarding internet on extremely poor countries. One fine example of money transfer services manifesting through SMS is M-pesa. Bitcoin can follow suit through the use of the said feature without a company patenting or copyrighting it and it could be a feature on stand-alone clients, especially mobile ones which people can use on the go.

I'd be more impressed if this feature goes on to the main bitcoin client embedded within the code, though I think we're far from getting there.

SMS is something everyone understands which is good. However banks are offering instant transaction times in my country, so the 2-3 hours definately needs to be reduced to ensure a point of difference, and the cost of transacting.

Hmmm what if someone were to steal my phone or hijack my sim card? Could they just send all the Bitcoin to themselves via SMS if I have activated that service on my phone? If there is no protection set in place this 'novelty' could potentially open a lot of mobile Bitcoin holders up for attack by crypto thieves. I am a little bit wary, guys. Just saying.

Its still a good news fro all of us .But i feel SMS is still the expensive of its kind and can be replaced with other modes of internet related apps which would even make the features even more cheaper.Or they can also tie up with free internet messengers which would also act like a bridge and make the transaction even more faster in the future.I hope so when they do this they will add more value and some more technology will enhance the same.

I don't know how you are saying that the transaction speed is 2-3 hours now?? That's a long gone past and with the adoption of segwit, it has come down to 5-10 minutes long back. Check your facts before saying this!!

https://www.blockchain.com/btc/unconfirmed-transactions

The above link shows the number of unconfirmed transactions and currently while I type this reply, it is showing 2131 transactions are unconfirmed! That's well within the limit and should not take more that 5-15 minutes to get 3 confirmations from the network. Also the transactions fees are now in cents. I often make transactions valued $300-$400 and pay the fees in cents. 

Good for you bro, I use KeepKey and it takes 2-3 hours to confirm so that's my own personal experience

It is good. this will help people using bitcoin in Cell Coverage without internet, just with SMS - really a very good step for Bitcoin in the world. I am greatful for this.