- Mission Advances SpaceChain's Vision of an Open-Source Blockchain-Based 
Satellite Network -

SpaceChain(http://www.spacechain.com/) announced that its blockchain hardware 
wallet technology is on its way to the International Space Station (ISS) 
(https://en.wikipedia.org/wiki/International_Space_Station), aboard a SpaceX 
Falcon 9 rocket as part of today's CRS-19 commercial resupply service mission. 
This is the first technology demonstration of  blockchain hardware on the ISS, 
and it will be installed in Nanoracks' commercial platform on Station. Today 
marks the third blockchain payload launched into space by SpaceChain in the 
past two years, advancing SpaceChain's vision of a decentralized orbital 
constellation for fintech and business applications. This ISS demonstration 
mission was made possible via Nanoracks(http://nanoracks.com/) and their Space 
Act agreement with NASA. 

Once activated, the payload will demonstrate the receipt, authorization, and 
retransmission of blockchain transactions, creating "multisig" transactions 
which require multiple signatures (approvals) to complete, increasing the 
security of the operation. All data will be both uplinked and downlinked 
directly through Nanoracks' commercial platform. SpaceChain's implementation 
adds the remoteness and security of space infrastructure to blockchain 
technology to lay the foundation for a new generation of products built on its 
technology. 

This milestone underscores SpaceChain's commitment to addressing land-based 
centralized infrastructure concerns, while accelerating technology advancement, 
international collaboration, and adoption of space-as-a-service for modern 
businesses.

Earlier this year, SpaceChain was awarded funding by the European Space Agency 
(ESA) under its Kick-start Activity program, to further develop and identify 
commercial use-cases for its satellite blockchain technology. By adding 
space-based payloads to established networks, businesses will be able to 
enhance the security of the transmission of digital assets that can be 
vulnerable to cyberattacks and hacking when hosted exclusively in centralized 
terrestrial servers.

"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."

SpaceChain expects the testing of this payload to be completed by early 2020.

About SpaceChain

Founded in 2017, SpaceChain is a community-based space platform that combines 
space and blockchain technologies to build the world's first open-source 
blockchain-based satellite network, allowing users to develop and run 
applications in space.

SpaceChain's decentralized technology is a catalyst for the creation of the New 
Space Economy, by making the development of space applications easier and 
making space more accessible. It enables innovation for a number of industries, 
and its first application will be space-based multisig technology for financial 
services.  

For more information, visit www.spacechain.com.

source: SpaceChain