Blockchain-Enabled Payload Launched into Orbit by SpaceX
A blockchain-enabled payload, incorporated with the space nodes created for its customers, has been successfully launched into space onboard a SpaceX Falcon 9 rocket. The payload is housed in a YAM-2 satellite which was carried on the rideshare mission operated by Loft Orbital, marking the beginning of space-based businesses and the burgeoning adoption of space-as-a-service among enterprises and communities worldwide.
"The democratization of space, combined with decentralized blockchain technology, has unfurled new opportunities for commercial companies and non-profit organizations to offer space-related services and champion social causes, as evidenced by (this) launch."
Zee Zheng, SpaceChain co-founder and CEO.
The milestone is another step forward in advancing SpaceChain's decentralized satellite infrastructure for business and fintech applications. Recognizing the potential of creating a next-generation infrastructure for the blockchain industry in outer space, the mission also affirms the high customizability of a blockchain-enabled payload in meeting diverse industry needs and generating commercial use cases across multiple sectors.
"We are entering the era of the commercial space age and we are very excited to be working closely with customers that share the same vision as we do," said Zee Zheng, SpaceChain co-founder and CEO. "The democratization of space, combined with decentralized blockchain technology, has unfurled new opportunities for commercial companies and non-profit organizations to offer space-related services and champion social causes, as evidenced by (this) launch."
Digital asset management firm Nexus Inc. (Nexus) will be integrating SpaceChain's Bitcoin hardware wallet with its existing system to enable ultra-secure multisignature transactions for customers.
Following SpaceChain's successful Ethereum technology integration in space earlier this month, Nexus will be able to take advantage of both Bitcoin and Ethereum platforms to provide a range of services from asset custody to e-commerce management and data security.
Crypto currency exchange Biteeu will leverage the high security of space-grade infrastructure deployed by SpaceChain for ultra-secure Bitcoin transactions, fortifying Biteeu as one of the most secure crypto currency exchanges in the world that places user privacy and security first.
When hardware and software tests are completed by November 2021, Biteeu users will be able to authorize Bitcoin multisignature transactions in space through the multisignature wallet.
(Source: SpaceChain news release. Image from file)