GomSpace and J.P. Morgan test blockchain transaction on GOMX-4 constellation

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GomSpace and J.P. Morgan have successfully utilized the GOMX-4 satellites for an in-orbit demonstration (IOD) and tested tokenized value transfer in space. The IOD from GomSpace enabled J.P. Morgan to test the world’s first bank-led tokenized value transfer in space, executed via smart contracts on a blockchain network established between satellites orbiting the earth.

GomSpace and J.P. Morgan successfully executed a transaction between two low earth orbit (LEO) satellites, which validated the approach towards a decentralized network where communication with earth is not necessary.

This breakthrough opens the door to a potential peer-to-peer DvP (‘data versus payment’) satellite marketplace in the long term, as private companies prepare to launch their own constellations.

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“We are proud to have supported J.P. Morgan as they explored this novel use case of a space-based payment infrastructure utilizing blockchain technology” – says Niels Buus, CEO of GomSpace.

The project was made possible due to GomSpace’s GOMX-4 satellites already in orbit and which are highly reconfigurable. This allows GomSpace to provide rapid in orbit demonstrations, such as this project, as a service to our customers exploring new uses of space technology and our nanosatellites.

Related Links
GomSpace
Microsat News and Nanosat News at SpaceMart.com



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MICROSAT BLITZ
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This launch is Nanoracks’ ninth missio … read more

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