Technology development is the key to our future

Blockchain in space

moonBlockchain is gradually but surely being introduced into the space industry. Decentralization is designed to help private and public space organizations to better cope with their tasks.

According to Andrew Murrell, head of the European Space Agency’s (ESA) Future Telecom Program Exploration, it is decentralization that makes blockchain ideal for the space industry.

The data stored on the blockchain can be reliably shared with multiple participants from different countries, this is very suitable for an industry that relies on international cooperation, as well as cooperation between public and private organizations.

Another key area will be tokenization, which will allow for a more efficient exchange of various space resources “Space resources such as satellites, space debris, asteroids, spaceships, astronauts, etc., can be represented in the form of digital tokens based on the blockchain.”

Despite the fact that everything is at an early stage of development, there are already several examples of blockchain use in the space industry. Andrew Murrell reports that ESA’s Business Applications and Space Solutions (BASS) program is already exploring how blockchain can be used with satellite systems. Merrell also notes that NASA provided a $ 330,000 grant in 2018 to develop a blockchain-based spacecraft system. The grant was won by Dr. Jin Wei Kochis for her Resilient Networking and Computing Paradigm (RNCP) project. As for private companies, the first satellite was launched by SpaceChain in 2018 with the aim of creating a blockchain-based satellite system.

Meanwhile, ConsenSys Space is building a blockchain database for satellite tracking. In other words, the future for blockchain in space looks promising.