Commercialisation of the space exploration is a very profitable business. According to the US FAA report, market capitalization in 2016 was more than $330 bln, and the US and the EU had more than 20 commercial cosmos trips. However, the space exploration has always been limited to governments and big corporations, with some rare exceptions like SpaceX. British startup SpaceBit is willing to solve the problem.
A ground-breaking way to fund international space projects, which makes space exploration available to the public, will be launched on January 24, in the course the World Economic Forum in Davos, Switzerland.
A community-led platform run by a team of consultants, astronauts, engineers and rocket scientists, will enable the public to choose and crowdfund large scale space exploration projects.
The Spacebit has been developing and building an ecosystem to allow people and small enterprise to take advantage of recent giant leaps in launch technology and satellite platforms for five years and has already gained support from top scientists, industry leaders and public figures.
Today, the project is taking the first steps towards building an alternative, decentralised global space agency. First of all, Spacebit is aimed to build a new platform, on which the public can participate and invest in future space missions. The platform will raise money in cryptocurrency. Spacebit will be structured as a Digital Autonomous Corporation (DAC), however it has strong strategic guidance from astronauts, economists and experts from space and blockchain industries. The plan is to implement a bottom-up approach, automating certain low-level technical processes using various DApps and then move up in complexity.
Pavlo Tanasyuk, founder of Spacebit explains: “The future of space exploration is currently reliant on Governments and commercial investors. However, with available public money for space exploration on an inevitable decline, we believe that individuals and private stakeholders will become the new space pioneers, and blockchain technology can make it happen. We believe that technologies like blockchain, which powers cryptocurrency, and a new kind of crowdfunding is the future of space exploration.”
“Our first goal is to launch a satellite within the next year. Launching a satellite will prove that community funded missions are viable and will ensure that the future of space exploration is at the fingertips of individuals. Once the doors to space are open – the possibilities are endless.”
Following on from the satellite launch, Spacebit is proposing lunar drone mission to explore the volcanic caves or even put a telescope on the back side of the moon using a rover and utilising a lunar orbiting satellite to relay the data back to Earth.
Apollo 15 Lunar Command Module Pilot, Col. Al Worden commented on Spacebit’s plans to put telescope on the Moon:
“Since my flight in 1971, I’ve commented many times, that the back side of moon would be a perfect place to put a telescope, in order to observe more of our universe.”