Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Space Coin Project Aims to Bring Down the Cost of Space Travel through Decentralization and Community

Cryptocurrency Jun 20, 2022 07:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Space Coin Project Aims to Bring Down the Cost of Space Travel through Decentralization and Community

In 12 short years, Bitcoin has morphed into one of the world's most valuable networks. According to trackers, each coin was changing hands at around $30k in late May 2022.

The underlying technology anchoring BTC is based on community and decentralization. It is the latter feature that makes Bitcoin and cryptocurrencies robust and secure.

Bitcoin Nodes in Space
Because of decentralization, Bitcoin and public crypto networks are highly reliable, allowing them to, among other factors, fast-track financial inclusion. It is so much that Bitcoin nodes have been deployed in space.

The idea is to ensure the network is functional even if catastrophic, black swan events on earth paralyze operations, taking down critical infrastructure. Presently, the Blockstream Satellite of Victoria, British Columbia, transmits Bitcoin's data to the whole of the United States, Africa, the Middle East, and some parts of Europe.

Besides Bitcoin, SpaceChain, another space-centric cryptocurrency project, has also deployed nodes in space via SpaceX's Falcon 9 rocket.

Space is the Next Frontier for Exploration
These developments cement the importance of space and point to the potential of an emerging sector in space travel.

Space exploration is gaining traction primarily because of advances made by SpaceX and Elon Musk in drastically slashing the cost of rocket launching. By reusing them, there is a significant drop in deployment costs, encouraging more participation.

Nonetheless, even in 2022, space exploration as an individual is a pipe dream because of cost barriers. Each ticket is upwards of $450k. This humongous figure is out of reach for most would-be space travelers.

Introducing the Space Coin Project
The Space Coin Project aims to change this.

They are going back to basics, understanding that the power of community and coalitions is critical in opening up space tourism for everyone. By leveraging the core ideals of blockchain, the Space Coin Project is building a decentralized system that gives everyone an equal opportunity to be able to afford space travel when it goes commercial.

The objective is to create a fair and equitable experience for the cost of traveling to space. This way, the creators of Space Coin Project hope to open up the industry and allow space tourism to flourish.

Slashing Down the Cost of Space Travel
Space Coin Project plans to make trips to space tenable by creating a concierge service with gamification elements for interested clients to acquire tickets.

The Space Coin Project enables holders of the native SPJ tokens to swap their assets for tickets through carriers of their choice. Every time users trade in their tokens for a spaceship ticket, they receive a customized NFT to commemorate their trip to outer space. This NFT gives them a pass into a Discord group where they interact with other space travelers, sharing their experiences and thrilling adventures.

Accompanying this conversion for tickets are personalized features such as timely communication with spaceship companies, accommodation and transport, all delivered through the Space Coin Project concierge.

The SpaceDAO
In the spirit of decentralization, security, and community, the Space Coin Project aims to be front advancing space exploration enthusiasts, bringing them together on a secure platform that advances their interests. The project is audited, and the SPJ token, set for fair launching on SushiSwap, will be central. Holders of SPJ would run the project through a DAO.

The DAO will be primarily tasked with burning SPJ tokens converted to ETH, USDC, or any other major coin and used to purchase tickets. Eventually, the Space Coin Project plans to enlist the DAO to be part of exciting space-focusing initiatives such as the Commercial Spaceflight Federation.

Continue reading on BTC Peers

Space Coin Project Aims to Bring Down the Cost of Space Travel through Decentralization and Community
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email