SpaceChain to Build Open Source Blockchain-Based Satellite Network

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Blockchain digital technology concept

SpaceChain, a startup based in Singapore is to build an open-source blockchain-based satellite network. The company claims this will be the world’s first such network.

According to a report by Geospatialworld, Singapore-based start-up SpaceChain aims to build an open-source blockchain-based satellite network. The company plans to establish itself as the integrator of space and blockchain technology that will help organizations protect their digital assets against cybercriminals and hackers says the report.

Create next-gen infrastructure for blockchain industry

The company also wants to create such infrastructure for blockchain industry that will allow for the collaboration between space and blockchain sectors in the future. The report says the company also wants to educate space professionals and the blockchain industry as well as create a global ecosystem that would connect businesses, developers and consumers for innovation.

SpaceChain’s blockchain partners include companies like Bloq, Biteeu and Qtum and its space domain partners are Alba Orbital, Deimos, SpacePharma, Nanoracks, Kubos, and Open Cosmos.

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