Space-based payments may catalyze the space economy
Our exploration into blockchain-based satellite-to-satellite payments1 may pave the way for seamless services and transactions in space. We executed a series of tests that will help lay the foundation of potential future platform – SpaceBridge2 - that would allow parties to request and pay for services without having to worry about complex inter-satellite communications and transactions.
In order to contextualize our work, we created a fully functioning demo where you can follow simulated transactions from an Earth-based station to a satellite in Lower Earth Orbit ('LEO'), to second satellite, also in LEO. The transactions are set within a narrative that simulates a user on Earth, Keerthi, procuring satellite imaging data. The transactions themselves took place on an Ethereum-based blockchain network and via satellite communications.
We are pushing boundaries
Watch live recordings of the technical interactions of the SpaceBridge demo that demonstrate our ability to execute future payments transactions supported by blockchain technology in space.
Earth to space network
Earth to space contract
Two nodes in space
Launching the Cosmos Economy
The SpaceBridge prototype has demonstrated that token exchange is possible in space. This could enable clients and their customers to participate in a space services marketplace securely without worrying about the hardware, configuration, or satellite ownership.
Building the Infrastructure Today for the Space Marketplace of Tomorrow
The SpaceBridge prototype demonstrates the feasibility of a future space economy. As our technology progresses, we hope to make it easier for our clients and their customers to exchange value for services in space. Our blockchain platform that was used for the SpaceBridge prototype could provide a secure way for inter-satellite transactions to occur without the need for coordination by an on-Earth intermediary. This would allow for optimization of requests across a constellation of satellites resulting in cost-effective services rendered and faster times.
Potential Future Uses for a Blockchain-based Payments Network in Space4
Geospatial Satellite Functions– capture and analyze remote sensor data, including but not limited to imagery, electromagnetic scanning, and radar.
Carbon Consumption– measure emissions, deforestation and weather using multiple constellations over time to determine carbon footprints of cities and organizations.
Internet Services– allow for internet services across the globe across different providers for remote areas or new markets.
Consumer Payments– establish a currency for space tourism, allowing consumers to pay for goods and services, such as experiences or communications..