Singapore-based start-up SpaceChain has decided to build the world’s first open-source Blockchain-based satellite network. The company aims to protect the digital assets of organizations from hackers and cybercriminals. In this effort, SpaceChina wants to become as the integrator of space and Blockchain technology.

SpaceChain aspires to form community collaboration in space. One of the major goals of the company is to inform space experts and Blockchain communities about their powers, boost collaborations and alliances and nurture a global ecosystem that will help in connecting developers, businesses, and consumers for the purpose of innovation.

A few days back, SpaceChain had the honor of receiving aid under ESA Business Kick-Start Activity program. The purpose of the grant was to allow SpaceChain to test use cases for its platform in outer space and produce a satellite-run multi-signature wallet.

The company has many renowned Blockchain partners that may include Biteeu, Bloq, and Qtum. SpaceChain’s space sector partners may include Open Cosmos, Alba Orbital, Nanoracks, Kubos, etc. It also has affiliations with many leading organizations like the London Chamber of Commerce and Industry, Chamber of Digital Commerce, Blockchain Research Institute among others.

Zee Zheng, CEO, and Co-founder of SpaceChain said,

SpaceChain aims to lower the entry barriers to space and facilitate the development and the running of decentralized applications. Our users need to only understand smart contracts without the need for detailed and technical knowledge of how the space industry works.

Blockchain Technology has exerted its strong influence on Zee Zheng. He remained thoroughly involved with the Bitcoin and Ethereum communities. Before heading SpaceChain in the capacity of CEO and co-founder, Zee Zheng led the first start-up in education, which later transformed into venture capital investment. It offered him opportunities to invest in companies. During his journey, Zee Zheng happened to meet Bitcoin pioneer Jeff Garzik as well, who went on to become his co-founder and chief technology officer (CTO) as they shared a common vision.

Zee Zheng believes that space is a vast sector and offers huge potential that can be tapped for commercial applications. It can also be used for discovering the traces of intelligent life in the huge universe. Technology can effectively democratize the space industry and unlock its massive potential. It is all set to emerge as the next frontier for leading innovations in business in the 21st century.