Usually, when sequels go to space, it’s a sign of a creative exhaustion. However, Filecoin’s announcement isn’t a sign that crypto is jumping the shark. Covered: Blockchain In Space Filecoin: Space Use Case Blockchain In Space In a galaxy far way, but not actually — just Davos, Switzerland — the World Economic Forum’s yearly blood […] The post Blockchain Goes To Space appeared first on CryptosRus.

Blockchain Goes To Space

Usually, when sequels go to space, it’s a sign of a creative exhaustion. However, Filecoin’s announcement isn’t a sign that crypto is jumping the shark.

Covered:

  • Blockchain In Space
  • Filecoin: Space Use Case

Blockchain In Space

In a galaxy far way, but not actually — just Davos, Switzerland — the World Economic Forum’s yearly blood sacrifice meeting is about to get underway. It will most assuredly be an event filled with faint praise for social responsibility and environmental efforts, as well feature the sort of powers that be that feel nervous standing next to a pleb with sunglasses on. 

One of the more interesting recent changes to the forum is the inclusion of crypto. Apparently this year it will include the likes of Tether and Sam Bankman-Fried. The forum starts tomorrow, but that hasn’t stopped the crypto-based news from already rolling in.

Apparently, decentralized storage protocol Filecoin has partnered with, of all companies, Lockheed Martin to do, of all things, develop blockchain infrastructure in space. With Lockheed — which has, apparently, freed up some time from profiting off neverending war — Filecoin will develop an opensource blockchain that’s accessible in space. It will use the InterPlanetary File System (IPFS) node developed by Protocol Labs, a key part of the Filecoin ecosystem.

Filecoin: Space Use Case

As interesting as this sounds, one has to wonder how useful this really will be. A lot of “out there” ideas involving space (like trying to get to Mars) feel like makework or vanity projects. This undertaking by Filecoin seems like it could actually benefit humankind.

The idea being that there will soon be an emerging space economy. There will be a need to do things like refuel, repair, or exchange data in space. Those transactions could use a currency that doesn’t get bogged down by an intermediary. This is obviously where the blockchain comes in.

“In the future, we’ll have one satellite refueling another. That’s a transaction that takes place entirely in space that doesn’t really have a nexus back on Earth. Decentralization makes sense for that,” Joe Landon of Lockheed Martin said.

Totally get that that one wouldn’t want to introduce a bank into space. It’s too bad because a space bank robbery could redeem the “goes to space” trope. Otherwise, it’s totally impractical.

But anyways, it should be a surprise to no one that crypto found a use case in space. After all, it was always meant to be on the moon.

Recommended: What is Filecoin?

The post Blockchain Goes To Space appeared first on CryptosRus.