On 31st January 2020, Accubits Technologies made its mission announcement to launch the world’s first enterprise blockchain satellite at The Space Technology Conclave organized by the government of Kerala. The mission aims to send a low earth orbit satellite, weighing 12 Kilograms to space for establishing an enterprise blockchain ledger that can enable a secure transactional network for next-generation financial & IoT systems. The mission, titled as Chainsat is scheduled to send a satellite to its orbit by Q1 2021.
Blockchain technology offers unparalleled security and trust among the users because it is not centrally controlled and it cannot be hacked or manipulated. For a majority of business applications of blockchain, a secure interface between the blockchain ledger and network participants is required. However, the currently existing communication channel – the internet doesn’t satisfy the security requirements demanded by enterprises. Due to the same reason, enterprise adoption of blockchain technology is in its nascent stage. Chainsat aims to fix this problem by facilitating an off-grid network for Blockchain transactions that bypasses the terrestrial internet. Here, the participants in the enterprise blockchain network can access the decentralized ledger via direct satellite communication. For example, federal agencies, financial institutions, etc has regulations in place that restrict it from storing information on public-facing servers or systems that are connected to the internet. For such institutions, Chainsat facilitates a secure communication channel without any need to depend on the internet. Communication with the satellite will be established with UHF Telemetry with 115 kbps data and S-Band payload Transmitter with up to 5 Mbps data and an experimental X-band transmitter with up to 150 Mbps data. The satellite will have an onboard data storage of 4 TB in space hardened memory modules.
The Space Technology Conclave, as a part of the SpacePark initiative by the government of Kerala is conceived with an objective to bring together International Space-Tech Companies, Space Industry bodies and agencies, Start-ups, Innovators, Academicians and investors to deliberate, interact and explore opportunities of collaboration and co-creation. In the event, Mr. Jithin VG, CEO of Accubits technologies unveiled the mission details. He said “To reap the maximum benefits out of the blockchain technology, it is necessary to be able to share data securely between organizations while still complying with the data protection regulations. But right now, they are constrained with the lack of a secure transactional network. We believe, Chainsat would solve this issue and could take the enterprise blockchain applications to its next level”
Several dignitaries attended the event including Shri Pinarayi Vijayan ( Hon. CM Kerala), HE Jamal Husein Al Zaabi ( Council General, UAE), HE Catherine Suard( Consul General, France), and Dr. Gilles Rabin ( Director Innovation, CNES Connect), etc.
To learn more about CHAINSAT, drop an email to contact@accubits.com
