Unlocking the value of blockchain for SpaceChain
Spire and SpaceChain on a mission to prove blockchain technology in space, and take digital currency security to the next level.
SpaceChain is Spire’s first blockchain client, and one of the first in the world to explore the possibilities of blockchain in space. The company received funding from ESA to create a satellite-based multisignature wallet to enable ultra-secure cryptocurrency payments in FinTech and for businesses. It has since completed the first blockchain transaction in space, with security guaranteed by satellite communication.
While the distributed and decentralized infrastructure of blockchain can offer unrivalled security – SpaceChain wanted to add another layer of security and encryption as crypto-currency
becomes more widely used. They were looking for a global solution that could help them scale their application coverage in Space. With software in space-as-an-offering, Spire was the perfect solution to take their application to space, while delivering secure data.
Having been part of Spire’s Brain in Space initiative, SpaceChain and Spire share common goals around innovation and the potential of the New Space economy. To achieve its objectives, SpaceChain leveraged Spire’s growing constellation of more than 100 satellites and its software capabilities, including “SABERTOOTH” supercomputing module, – an ultra-fast and power-efficient embedded AI computing device.
The project comprised two parts. During the first phase, Spire completed an on-orbit upload of SpaceChain’s blockchain-enabled to Spire’s existing constellation. In the second stage a bigger piece of software was loaded on the Spire LEMUR satellite that was launched on the SpaceX Falcon 9 rocket in January 2022.
Having had a strong partnership with the Brain in Space program, SpaceChain was able to use Spire’s existing satellites to move quickly. The SpaceChain team handed over the software to Spire on 24th September 2021 and in less than a month – they were live on a Spire satellites, i.e., global scale in the LEO orbit.
As the relationship grew, and SpaceChain learned about how Spire’s capabilities could accelerate the project, SpaceChain became increasingly confident that it could launch and scale its software platform into space.