While Bitcoin (BTC) might not be ready for the moon yet, its underlying technology of blockchain is being increasingly adopted in space.
The European Space Agency (ESA), a major intergovernmental organization dedicated to space exploration, is funding a new blockchain project aiming to boost the world’s mining industry.
A known contributor to blockchain technology applications, the ESA has now co-funded a joint project with Scottish startup Hypervine to improve data transparency for the mining industry by combining satellite data and blockchain. The news was reported by oil and gas-oriented publication Oil & Gas Middle East.
Preventing potentially fatal accidents in mining work
The project has the ambitious mission of preventing miscalculations and potentially catastrophic or fatal accidents in the mining industry by providing a unified and immutable database of mining data. The project is based on Hypervine’s technology, which enables mining teams and their subsidiaries to clearly record data on an unchangeable ledger, eliminating the risk of the smallest data alterations being magnified down a chain. Read More...