The International Space Station (ISS), humanity’s largest and most advanced habitation in space with a multinational crew of 6 people, will soon have cryptocurrency capabilities thanks to SpaceChain sending a hardware wallet up to the ISS via a SpaceX Falcon 9 rocket.
This hardware wallet will be installed on Nanoracks’ commercial platform onboard the ISS, and it will be able to authorize, receive, and send cryptocurrency transactions.
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The hardware wallet will have an uplink/downlink with Earth, making it possible to send cryptocurrency from the Earth to the ISS and vice versa.
It is certainly an incredible milestone that cryptocurrency can now be sent to and from a space station that is 250 miles above the ground and moving at 17,000 miles per hour.
At this time the SpaceChain hardware wallet supports only Qtum, which is ranked #37 on CoinMarketCap with a market cap of $165 million.
SpaceChain is integrating support for Ethereum (ETH) however, and once that is complete the ISS will be able to send and receive the multitudes of ERC-20 tokens. The hardware wallet will also use multisig transactions to increase security.
Aside from this new project onboard the ISS, SpaceChain also has a ‘Space Node’, which is a satellite orbiting the Earth that is running a full node on the Qtum blockchain, enabling cryptocurrency transactions and smart contract execution. The Space Node can be tracked in real-time at this link.
Zooming out, cryptocurrency is an optimal currency for space due to its decentralization, cryptographic security, immutability, and instant transactions, and it seems SpaceChain is establishing itself as the leading space cryptocurrency company.