First Satellite in Spacechain’s Blockchain Network is set for Launch

Blasting off from China on Feb 2, is the
premier satellite in what SpaceChain hopes
will be the world’s first open-source
network in space, running on blockchain
nodes. The space agency says it plans to
launch the satellite, equipped with Raspberry
Pi hardware and running Qtum blockchain
technology, at 6 pm Beijing time (10 am
GMT; 5 am EST) via CZ-2D rocket. The
company also outlined plans to launch two
further satellites in 2018 to form a network
of blockchain sites, a globally distributed
application layer for data processing and
storage. The project will also create an open
source platform to accelerate outer space
development and settlement, said the
company in a statement.
The company also outlined plans to launch
two further satellites in 2018 to form a
network of blockchain sites for data
processing and storage. The project expects
to create a globally distributed application
layer and an open source platform to
accelerate outer space development and
settlement, said the company in a statement.
According to SpaceChain’s Co-Founder and
CEO, Zheng Zuo, “The launch is a
momentous step forward towards the
creating of an open-source problem-solving
model that optimises collective intelligence.
We aim to revolutionise the space industry
by allowing for better utilisation of space,
accelerate discovery and enhance access to
new technologies across the industry.”
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Jeff Garzik, former Bitcoin Core developer, is
SpaceChain’s co-founder and CTO, and
billionaire investor and futurist Tim Draper
recently took on the role of Core Business
Advisor at the Singapore based company.
He stated, “SpaceChain’s foray into space
will successfully create a decentralised
environment that facilitates advancements
and collaborations at a fraction of the cost
typically associated with the industry.”
SpaceChain says that it plans to put cost
savings from technology into advancing
space medicine, outer space agricultural
efforts and distilling freshwater for
consumption.
The company was founded in 2017 to create
a solutions-oriented platform to tackle
mankind’s greatest challenges, says its
statement, released on Wednesday.
SpaceChain plans to establish enabling
conditions that incentivize the space
community to strengthen the current
ecosystem. The company also said it plans
to make the space industry more accessible
to the general public and to foster
sustainability and knowledge sharing.