SpaceChain, a community-based platform focused on providing users with a way to develop and run apps in space, just announced that its blockchain hardware wallet is on its way to the International Space Station (ISS) as part of today’s CRS-19 resupply mission carried out by a SpaceX Falcon 9.
This is the third time SpaceChain launches a blockchain-powered technology into space in the past two years, however, it is the first time the ISS will get a demonstration of the capabilities of blockchain.
The wallet will be installed in Nanoracks’ commercial platform on board. Nanoracks and their Space Act agreement with NASA makes the whole thing possible.
Once activated, the payload will demonstrate the receipt, authorization, and retransmission of blockchain transactions. The transactions will require multiple signatures (approvals) to be completed, bolstering the overall security of the operation.
Earlier in 2019, SpaceChain was awarded funding by the European Space Agency (ESA) with the prerequisite to identify and develop commercial use cases for its satellite blockchain technology.
“The third payload launch is a significant milestone not just for SpaceChain but also toward the development of the New Space Economy,” said Zee Zheng, SpaceChain co-founder and CEO. “The integration of space and blockchain technologies has uncovered new possibilities and opportunities and we are very excited about the prospect of working closely with financial service providers and fintech developers, IoT service providers, research institutions and space agencies in the coming months to further accelerate advancements within the ecosystem.”
“Blockchain is the next major disruptor in space,” said Jeff Garzik, SpaceChain co-founder and CTO. “SpaceChain addresses security vulnerabilities for financial systems and digital assets in the growing digital economy. Through integrating technologies, new paradigms that were once beyond reach can now be created and add exciting elements in the New Space Economy.”
This achievement only amplifies the vision of SpaceChain to help transition global technology from land-based centralized infrastructures to international ‘space-as-a-service’ platform available to modern businesses.
The testing of the hardware wallet on the International Space Station is expected to be completed by early 2020.