An effective currency needs to be widely accepted, easy to use, and stable in value. By now most of us have recognized that cryptocurrencies fail at all three things, despite lofty ideals revolving around decentralization, transparency, and trust. But that doesn’t mean that all digital currencies or payment systems are doomed to failure. [Roni] has been working on an off-grid digital payment node called Meshtbank, which works on a much smaller scale and could be a way to let a much smaller community set up a basic banking system.

The node uses Meshtastic as its backbone, letting the payment system use the same long-range low-power system that has gotten popular in recent years for enabling simple but reliable off-grid communications for a local area. With Meshtbank running on one of the nodes in the network, accounts can be created, balances reported, and digital currency exchanged using the Meshtastic messaging protocols. The ledger is also recorded, allowing transaction histories to be viewed as well.

A system like this could have great value anywhere barter-style systems exist, or could be used for community credits, festival credits, or any place that needs to track off-grid local transactions. As a thought experiment or proof of concept it shows that this is at least possible. It does have a few weaknesses though — Meshtastic isn’t as secure as modern banking might require, and the system also requires trust in an administrator. But it is one of the more unique uses we’ve seen for this communications protocol, right up there with a Meshtastic-enabled possum trap.