SpaceChain which was recently accepted into UAE’s Abu Dhabi Hub71 Cohort, and Eurasian Space Ventures (ESV) have signed a Memorandum of Understanding (MOU) for ongoing collaboration and developing joint projects in the field of space and blockchain technologies. Founded by businessman and entrepreneur Shukhrat Ibragimov, ESV is a limited company registered in Kazakhstan which aims to serve as an international hub for space projects and related organizations looking to capitalize on the well-established space infrastructure and ecosystem in the country.
Under the agreement, both companies will exchange information and expertise, and cross pollinate ideas and develop joint projects in the field of space technologies over a period of two years.
SpaceChain will explore collaborative opportunities with its partners in the global space industry in leveraging the existing space facilities and infrastructure in Kazakhstan. ESV will facilitate communication with the National Space Agency of the Republic of Kazakhstan, also known as Gharysh Sapary, on behalf of both companies.
“We are establishing a valuable partnership with SpaceChain to not only help showcase what Kazakhstan has to offer as an international space hub, but more importantly, to help organizations discover space as an innovation platform for competitive advantage and success,” said Shukhrat Ibragimov, founder of ESV. “By combining and integrating expertise and knowhow in blockchain and space from both companies, we are very excited to have taken the historical step with SpaceChain in driving innovation and further development in the democratized space sector.”
For a start, ESV will operate and manage two joint space projects co-developed with SpaceChain for digital currency exchange Biteeu, which will be deploying SpaceChain’s on-orbit space-grade infrastructure to perform ultra-secure Bitcoin multisignature transactions and data back-up; and Divine – a community project that leverages space technologies to broadcast the Quran audio complimentary to Muslims and anyone looking to understand the Sacred Text of Islam across the world.
“We are entering a new era of space exploration and harnessing space technologies as a platform for business innovation. 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,” said Zee Zheng, SpaceChain co-founder and CEO. “We will continue to identify more commercial use cases for space technologies, and it is our firm belief that the collaboration with ESV will help accelerate the process.”