When many of us were children, we dreamed of one day going to space. Eventually, we realized that only government bodies like NASA had the power to do so, and our dream seemed to be out of reach. Some of us went to Space Camp to taste what it would be like, but sooner or later we had to come to terms with the fact that it was not possible at the time. Little did we know that decades would have to pass before NASA could open space exploration to the public.
Companies like SpaceX and Virgin Galactic seemed to change everything, promising commercial space exploration in the near future. However, the staggering cost of a ticket on a commercial space flight is still one of many obstacles that remain.
A new company, Spacebit, is using blockchain technology to realize the dream of public space travel far faster than government agencies or large corporations can, and changing how we collectively think about space exploration.
By tokenizing commercial space missions around the world, Spacebit claims to be creating a new ecosystem for public involvement in space research, development, and travel. In the process, they are bringing together top technology companies and space travel experts to build the infrastructure of the coming space age. Spacebit’s internationally-acclaimed team not only aim to democratize access to space, but to also enable humanity to explore Mars and beyond.
Spacebit has partnered with Goonhilly Earth Station to build a unique ecosystem for ground-based elements of space missions, including radio communications, ground networks, and mission control components. The team is also preparing to launch two more offerings, Space Segment and Blockchain-Based GPS.
To IoT and beyond
Internet-of-things (IoT) devices are intended to communicate and perform complex operations semi-autonomously, with minimal input from humans. This design makes them ideal for satellites, drones, and other space vehicles that have to rely on distant signals from mission control. Introducing new IoT technologies to these machines will allow them to perform far more efficiently on their own in far-off locations.
Anticipating that IoT technology will allow a machine-to-machine economy to unfold between trillions of devices in the coming decades, Spacebit has become the first to adopt IoT for use in space (SIoT). As a first step, Spacebit will implement a secure protocol for networks of sensors and connected devices, which will enable remote sensing and transmission of large amounts of data by space vehicles. By utilizing IOTA as the Distributed Ledger Technology (DLT) for SIoT, Spacebit is well adapted for adoption and innovation within the space industry.
Spacebit Capital
Spacebit’s venture capital fund, SpaceBit Capital, is the first tokenized VC fund for space exploration. The fund discovers early-stage, space-related, intellectual-property-intensive companies that focus on a few key areas that will play a key role in the decentralized space age:
- Downstream software
- Satellite data transmission for the earth-moon system
- Space internet of things (SIoT)
- Propulsion, robotics, or remote sensing intellectual property
Spacebit Capital wagers that blockchain and distributed ledger technology will provide the infrastructure for the next technological, economic, and social frontier, and is investing in companies that can bring it to fruition.
The Spacebit Alliance
Spacebit aims to forge an alliance that will not only bring space exploration closer to the public but also facilitate innovation and creates long-term benefits for participants. The alliance has three pillars:
- Governance Models - Customized governance and management models suited to manage the space expeditions of the future.
- Data Services - Particularly data storage, which will not only be decentralized but also use machine learning and blockchain to increase efficacy.
- Financing Opportunities – A blockchain-based financial ecosystem, spearheaded by Spacebit Capital, that will invest in space exploration and seek to make it seamless and efficient.
A Way into the Future
New technologies often face the same struggle; existing market structures and institutions are locked in competition and resistant to change, out of fear for their survival. The greatest obstacle to progress is often not the lack of technology, but lack of cooperation. Spacebit believes that the ripest opportunities for creating a future based on cooperation that does not exist on Earth – so they are expanding their horizons beyond our planet.
Spacebit is not only creating an efficient space exploration system with the help of smart contracts, data tokenization, secure data storage, and communications protocols; but they are also reigniting the common dream of going to space, and making it accessible to everyone. The future is exciting and the unknown beckons.
