HashCash Consultants, a global frontrunner in blockchain development, will extend its blockchain expertise to orbital assets tokenization for a US Space Research Institute. The announcement demonstrates HashCash’s continued commitment to innovations in blockchain-powered space research.
Orbital assets include multiple structures within a spatial orbit. Asteroids, orbit vectors, satellites, space debris, and several other objects can be tokenized for recording and sharing through secure blockchain networks. The tokenization helps stakeholders in monitoring and recording the required orbital tokens through blockchain smart contracts in a transparent manner. The monitoring device in space can function as a transceiver for the digital tokens.
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HashCash CEO, keynote speaker, and noted blockchain pioneer Raj Chowdhury describes the impacts of blockchain incorporation in space research, stating, “Blockchain’s secure network characteristics function outside the earth as well. Its decentralizing traits removes the possibility of errors in conventional single-point access modes of space communication, in addition to eliminating concerns of tampering with cryptographic encryption.”
There are additional advantages of blockchain-incorporated orbital asset tokenization. Blockchain tokenization aids in greater access and control of space assets enabling stakeholders with efficient monitoring, processing, and verification capabilities. Quicker transactions and automation compliance through blockchain-based smart contracts facilitate a variety of functions and transactions such as S2S, G2S, U2S, G2G, and A2A, contributing to overall space asset management.
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“A consortium blockchain system running on smart contracts empowers space tech stakeholders with access to a connected dashboard featuring the latest added blocks encapsulating orbital tokens and space decision tokens. With real-time functioning, blockchains also reduce the time taken to relay a space message from satellites to ground stations,” mentioned Chowdhury.
HashCash-designed products and solutions are deployed worldwide in more than 26 countries. The US-based company won the top position in an international list of blockchain development companies compiled by a notable global business research firm. The company has also forged successful partnerships with reputed research organizations, teaming up recently to build a blockchain-powered Digital Identity Lab and a Space Commodities Exchange.
The implementation of blockchain addresses several existing setbacks in Space Research. HashCash’s innovative solutions will help research organizations with better transparency, faster communication, and enhanced efficiency. It will also assist in detecting tampering attempts on the satellite server system.
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