TechFlow news, on September 4, according to Decrypt, decentralized physical infrastructure network project Spacecoin announced during Seoul Blockchain Week in South Korea its plan to provide high-speed internet services to remote communities using nanosatellites. The project aims to leverage Creditcoin blockchain's infrastructure to bridge the digital divide affecting billions of people.
Tae Oh, founder of Creditcoin, stated that traditional internet infrastructure is highly centralized due to costs, allowing governments to censor websites or information users access by controlling telecom companies. Spacecoin aims to replace this model with a satellite constellation, enabling anyone to participate in building network infrastructure.
The project's development team includes U.S. military generals, lunar scientists, NASA astronauts, and blockchain industry experts. Spacecoin plans to use blockchain technology to securely manage data transmission, with users paying for network services via cryptocurrency. By building on Creditcoin, Spacecoin aims to enable cross-chain payments for internet access.
Company executives said that using smart contracts for on-chain data transmission will bring unprecedented security and transparency to DePIN satellite infrastructure. The first satellite, CTC-0, is scheduled for launch in the fourth quarter of 2024.
