September 24, 2023

European Space Agency invested in blockchain startup Hypervine

The European Space Agency (ESA) has funded a startup called Hypervine to create a blockchain solution, which will help combine data from satellites and geological exploration.

The project will be based on Hypervine technology,which will allow mining companies to write data to a fixed distributed register, eliminating the risk of even minimal changes during the passage through the chain. Transparent data will help in mining, make it safer and more efficient, and also help prevent accidents.

Also, data fromsatellites, which will allow mining companies to have access to accurate and trusted data, more reliable than paper sources. Such data will not need to be verified in several sources, using large resources. Note that now companies spend months obtaining the necessary data from various fragmented sources.

Solution Expected to Help Reduce Emissionscarbon dioxide by increasing the efficiency of mining and transportation of minerals. According to Beatrice Barresi, ESA Space Solutions Technical Officer, recently the use of satellite data for the mining industry is becoming more popular, and the blockchain allows you to increase profits.

“Our main goal is to make such industriesindustries like quarrying are safer, cleaner and more transparent. Working with companies like Hypervine allows us to achieve these goals while improving standards in many industries. It was great to work with Hypervine on this project and we look forward to the next steps, ”said Barressi.

Recall that last fall the startup SpaceChain won a grant of 60,000 euros from the ESA for the development of the satellite project.