Blockchain...in space?

Most people associate blockchain technology with cryptocurrency, without realizing the other applications possible under the umbrella of this shared, public database. Blockchain stores all transactions in pieces of data – known as blocks – that are linked together to form a verified and digitally traceable record of transactions or data.

As identified by Pricewaterhouse Coopers (PWC), the potential uses of this technology extend far beyond decentralized currency — as a matter of fact, they extend beyond the borders of Mother Earth herself.

This article will examine the possible deployment of blockchain technology … in space!

Above and beyond

Investments in the aerospace industry have risen in recent years – as the PWC report notes, access to finances remains the largest hurdle for spacefaring entrepreneurs. Blockchain technologies – especially channelled into the form of initial coin offerings (ICOs) – might offer a new and welcome way to fund space exploration activities. The application of blockchain to monetise data from space missions to asteroids, Mars and the moon could potentially attract an audience of interested enthusiasts.

The emergence of an ICO-based funding platform could enable new sources of funding for start-ups and space programs.

Space race

The benefits of blockchain and space technology integration go both ways. Transactions conducted via satellites could enhance the security and decentralization of distributed ledger technologies, bolstering the qualities of blockchain that many investors and adoptees find particularly attractive.

The potential opportunities afforded by this union are just being discovered. As reported in a recent Forbes article, the emergence of the private space industry is creating opportunities for businesses harnessing the encryption and data storage capabilities of the blockchain.

ConsenSys Space has created a blockchain-based architecture to pinpoint satellite positions. This is an important task, considering the increasing number of voyages from companies such as Virgin Galactic and SpaceX offering commercial flights into orbit. With more traffic than ever before entering space, collisions with asteroids and the satellites themselves need to be avoided … and companies like ConseSys Space are harnessing the power of blockchain to ensure human-containing flights are as safe as possible.

Satellite communication is a practical application for blockchain. The race to build satellite constellations in order to provide high-speed internet is being undertaken by telecommunications companies all around the world.  As detailed by the Forbes article, the infrastructure necessary to fund and develop this network could easily be supported by blockchain's transparency, resulting in an efficient and traceable chain of data for each iteration of this scalable business model.

As space becomes an increasingly trafficked and populated destination, the presence of a virtually limitless and scalable data housing platform can ensure the stars are charted, catalogued and analyzed using a technology that can house records of every man-made piece of technology in orbit.

Perle powers transportation efficiency

To learn more about how Perle is assisting the next generation of transportation industry innovation, visit our case studies page. Designed to enhance the connectivity of vehicles on land, at sea – or potentially in space – Perle device servers ensure your network data communications are secure.