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Blockchain in Space? Some Companies Say It’s Possible

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Does blockchain going to space or taking over it sound foolhardy or impossible? According to a few different crypto companies, the idea isn’t as odd as it might seem at first glance.

Blockchain and Space… The Perfect Match?

There are many crypto and blockchain companies out there that are very curious about the universe and what distributed ledger technology can do when it comes to space. One of those companies is Lunar Crush. It recently announced plans to rover over 200,000 miles to the moon with a private key etched onto the machine that would make its way through the final frontier.

This is like the plan that was initiated by Elon Musk. Remember when he said he literally wanted to send Doge to the moon?

In addition to Lunar Crush, crypto startup Cryptosat said it’s working on something called “Space Wallet,” which it said would be used to secure crypto beyond the stars. There are also several other firms – including Filecoin, Space Chain, and Blockstream – that say they want to mix outer space with blockchain.

Cryptosat is a company that was founded by Yan Michalevsky and Yonatan Winetraub. They are pursuing doctoral degrees at Stanford, and the company has already sent two coffee mug-sized satellites into space. They were equipped with small computers that could perform computations and safeguard crypto. Michalevsky commented in an interview:

Given the fact that they cannot be accessed physically, that can protect against very sophisticated attacks that are becoming relevant, especially in the blockchain and web3 space[s].

Space Chain was founded by former BTC developer Jeff Garzik. It also has a few computers in space right now, and all are attached to satellites, a few of which have to do with the International Space Station. Talk about a big boost for blockchain! The company’s present CEO Cliff Beek said:

A blockchain node or any other node in space that is off the terrestrial infrastructure creates an air gap for any access that’s unauthorized.

Blocksteam was founded by Adam Back, who has close ties to Satoshi Nakamoto, the elusive founder of the bitcoin digital currency. The company has garnered more than $125 million at press time to expand its crypto mining facilities. It’s also leasing four satellites that are broadcasting to bitcoin’s blockchain. Back commented:

One of the promises of bitcoin is the ability to improve global access to remittances, finance, international transfers and things like that… Entrepreneurs and businesses in different parts of the world where bandwidth is more expensive will use this infrastructure to make it economically feasible.

Securing Files with Blockchain

Moreover, Lockheed Martin – a defense contractor – is using Filecoin to secure inter-satellite communications.

The company is also launching an interplanetary file system to test its theories regarding blockchain’s abilities to secure satellite transmissions.

Nick Marinoff
Nick Marinoffhttps://www.livebitcoinnews.com/
Nick Marinoff is currently a lead news writer and editor for Money & Tech, a San Francisco-based broadcasting station that reports on all things digital currency-related. He has also written for a number of other online and print publications including Black Impact Magazine, EKT Interactive, Seal Beach USA and Benzinga.com, to name a few. He has recently published his first e-book "Take a 'Loan' Off Your Shoulders: 14 Simple Tricks for Graduating Debt Free" now available on Amazon. He is excited about the potential digital currency offers, particularly its ability to finance unbanked populations and bring nations together financially.

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