HashCash is to lend technology expertise for Space Commodities Exchange for a renowned space technology company.
The global blockchain development company, HashCash Consultants is elated to announce its collaboration with a renowned space technology company in building a Space Commodities Exchange. Here, commodification refers to the conversion of physical goods and services into standardized contracts; transforming capital into contractual rights that vouch for delivery of the said objects in the future. The project also entails the creation of NFTs of rare minerals collected or ejected from outer space.
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The project involves developing a commodities exchange that enables the trade of space resources and extra-planetary rocks or minerals. Space contains such resources as we need to sustain an expanding, spacefaring civilization. Water, rocks, minerals, and other valuable commodities found on earth are also available and on other planets; in greater quantities than those on Earth.
“The progressing economy of space resources will be fuelled by the extraction, processing, transportation, and utilization of these commodities,” remarked Raj Chowdhury, Founder, and CEO of HashCash Consultants.
“However, developing a sturdy space economy would require a regulated public marketplace for buyers and sellers to meet and trade in space commodities and services using standardized commercial contracts.”
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This may be further explained by the instance of lunar water miners and asteroid prospectors. Their raw materials must be available to space manufacturers and other consumers. The Space Commodities Exchange will provide the required platform for transactions, facilitating delivery.
HashCash ranks among the top blockchain development companies in terms of providing technology. It provides crypto solutions to institutional crypto adopters and financial institutions. HashCash enlists various solutions on its website including Stock Exchange and Commodity Exchange Software.
As the global space industry matures, it would naturally require a platform to bring the buyers and suppliers together. Obviously varied from generic commodities, the space commodities would require a specially constructed marketplace for the purpose. Under these conditions, there can be no better solution than a blockchain-powered decentralized platform to flag off the industry.
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