Blockchain startup SpaceChain partners with Kazakhstan-based spacetech firm

SpaceChain, a Singapore-headquartered blockchain startup, has signed a memorandum of understanding with Eurasian Space Ventures (ESV), a spacetech company in Kazakhstan.

Photo credit: SpaceChain

Under the deal, the companies will develop joint projects focused on space technology over a period of two years. SpaceChain will explore opportunities with its partners in the global space industry to leverage ESV’s space facilities in Kazakhstan.

SpaceChain combines space and blockchain technology to make the development of space applications easier and accessible. On the other hand, ESV aims to serve as an international hub for space projects and organizations looking to capitalize on the space infrastructure in Kazakhstan.

“We are entering a new era of space exploration and harnessing space technologies as a platform for business innovation,” said Zee Zheng, co-founder and CEO of SpaceChain. “Partnering with ESV will complement our continuous efforts in building out an open-source blockchain-based satellite network that is secure and immutable for fintech and decentralized applications.”

Initially, ESV will operate and manage two joint space projects along with SpaceChain. They will team up to develop a digital currency exchange called Biteeu, which will deploy SpaceChain’s on-orbit space-grade infrastructure to perform secure bitcoin multi-signature transactions and data back-up.

The companies will also collaborate on Divine, a community project that uses space technology to broadcast the Quran in audio format.