The European Space Agency will in future use blockchain technology for the acquisition of topographic measurement data. The blockchain solution used in the satellites comes from the Scottish company Hypervine.
The European Space Agency (ESA) is equipping satellites with the blockchain technology to map mining sites. The aim is to collect geoinformation that provides information about topographical characteristics. The block-chain technology is being contributed by the Scottish company Hypervine, which develops applications in artificial intelligence (AI) and block-chain technology.
ESA equips satellites with blockchain technology
According to the mining news portal Mining.com, Hypervine is developing a system co-funded by the European Space Agency to collect satellite-based data to improve the mining industry. Hypervine’s Blockchain solution will enable the recording of satellite data and provide companies with information regarding topography, fluids and minerals.
Paul Duddy, CEO and founder of Hypervine, is excited about the task ahead:
“Working with the European Space Agency at such an early stage of our development is an incredible honor. I first saw the potential to help a wide range of industries bring their processes into the digital age, but also to help eradicate the all too often catastrophic and sometimes fatal accidents that occur due to incorrectly recorded data or lost documents.”
Accordingly, the Blockchain is to prove its potential as a tamper and forgery-proof database in space. An error-free system that prevents third party intervention is an important factor in the collection of measurement data. Accordingly, the smallest inaccuracies can trigger an avalanche of false information and ultimately lead to serious misconceptions.
Beatrice Barresi, Technical Officer at ESA Space Solutions, explains the space agency’s commitment:
“The use of satellite-based data for mining operations is already a sector that receives enormous investment and funding in private and nationalized space programs. ESA is very active in developing and launching innovative space-based applications that can quickly and effectively support better commercial results.”
Using blockchain technology, high-quality data greatly facilitates the surveying of mining sites. In addition, accurate analysis can save costs for companies and reduce potential risks for local workers.