Russia may launch a blockchain into space

Novy Kosmos Corporation plans to create satellites to solve the problems of the blockchain networks

16.12.2021 - 12:40

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What’s new? The aerospace corporation Novy Kosmos is going to create a constellation of satellites in orbit. It will “solve problems in the field of blockchain networks.” The CEO of Novy Kosmos, Anton Alekseev told TASS about this.

Information on the TASS website

What is the significance of the project? According to Alekseev, the need for such a project arose against the backdrop of the emergence of new trends in digital economies. But, the TASS interlocutor added, the device is unlikely to be launched in the next two years.

“We plan to create a satellite in orbit in one of our projects, and potentially a grouping that will solve problems in the field of blockchain networks. When servicing validators of such networks, one of the most important issues is the security of cryptographic keys, including physical ones, with the use of which the digital signature of transactions takes place. The project itself will allow the Russian space company to join the narrow-profile technological international agenda, which is still at the stage of formation,” Alekseev said.

What does Novy Kosmos do? The domestic aerospace company develops projects in the space and digital spheres. It was established on November 8, 2021. The corporation aims to contribute to Russia's IT leadership and build core international cooperation.

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