Planetary resources are on a completely new and uncommon turn on its way of asteroid mining. A blockchain organization named ConsenSys, developed by Joe Lubin, co-founder of Ethereum, and has acquired planetary resources in an unrevealed amount.
The acquisition is a completely new, trendy and of its kind, given the credit to the amalgam of blockchain technology company and a private spaceflight company. However, it is a complete logical fit, if we consider the words of Brian Israel from Planetary resources.
The smart agreements based on blockchain technology represents a great solution for commerce in the outer space, as said by Israel, there are no geographical and territorial boundaries, so this might be a great way for the individuals from different nation to do coordination and transaction.
ConsenSys has selected the former Redmond in Washington to perform all of its space strategies at Planetary Resources. Chris Lewicki, the chief of Both Planetary resources and Israel became the part of the ConsenSys as a part of the contract.
The recently united organizations haven’t created any layout or a roadmap till now. However, the deal is more of an outcome of a capital necessity than anything else. The company has moved a step closer of its planning of asteroid mining by testing its technologies in the space, but it at recent times has made the employees lay off their jobs to secure a crucial funding round.
ConsenSys acquired planetary resources, is a lifeline that needs to keep the plans in place, even if in the near future the company will take more than its targeted time of 2020 to start is key asteroid inspection mission.
However, the acquisition is completely one of its kinds by now, it has opened doors for many other technologies to come in combination and create something different, but meaningful.