Building a blockchain system in space?

Rage Review : Indian Railways officials released a research report, saying that blockchain technology can be used to realize the idea of ​​space currency and build a connection between the space currency system and the earth's economy. However, at present, human exploration of outer space is not enough to support us to realize this vision, but the possibility of this plan is undeniable.

Translation: Annie Xu

Blockchain in outer space?

Indian government officials released a research report that shows us that this future is not far away.

The document is titled "Extra-Terrestrial Applications of blockchains and Cryptocurrencies". Kartik Hegadekatti from the Ministry of Railways of India mentioned in the report that blockchain technology can realize space currency and connect physical currency.

Hegadekatti has written reports on cryptocurrencies, including one in August that looked at the possibility of a national “NationCoin.” The timing of the document’s release is noteworthy because India has begun to phase out paper currency and bitcoin trading volumes have risen.

Although the concept seems far-fetched and speculative, people have not set foot on the moon many times, and there has been no manned flight to Mars. In addition, Hegadekatti believes that sending paper money or coins into space is too expensive and heavy to be feasible.

He believes that, in theory, space stations on all the planets in the solar system could synchronize their respective blockchain systems.

"When people build a complete space station on Mars and go beyond the Kuiper Belt, they can use the blockchain network to connect all space economies. They can issue cryptocurrencies such as MarsCoin, LunarCoin, JupiterCoin, SaturnCoin, and TitanCoin on their respective blockchains."

It’s even possible to mine cryptocurrencies in space.

"Powerful microprocessors embedded in objects can enable intelligent mining on Mars and build a currency trading system architecture. Devices with embedded chips can mine cryptocurrencies for space transactions."

"Thus, equipment launched into outer space could automatically create value for the world economy."