Spacecoin announced successful communication with its recently launched connectivity satellite, a crucial step in its mission to build a decentralized space-based network. This network, shared amongst multiple investors, utilizes innovative technology for global reach.
“We have established regular communication with the satellite,” confirmed Spacecoin founder Tae Oh, following the SpaceX Falcon 9 launch on December 21st. The venture plans to begin testing its CTC-0 small satellite early next year, initially focusing on space-enabled text messaging via specialized antennas, with the ultimate goal of direct-to-smartphone communication.
The project stems from Gluwa, a U.S. software company specializing in blockchain-based financial services for emerging markets. Spacecoin leverages the Creditcoin blockchain platform to manage its satellite constellation, securely tracking operations and facilitating payments without centralized control. Creditcoin (CTC) serves as the network's transactional currency.
Oh emphasized the network's enhanced security and censorship resistance due to its decentralized nature. “By having a decentralized platform, you don’t need to get third party [government or telco] permission,” he stated, “you can get directly connected to your content provider, person, or the machine that you want to communicate with.”
Spacecoin's open standards allow any investor willing to contribute a satellite to participate as a connectivity provider, receiving revenue based on their satellite's usage. Spacecoin CEO Stuart Gardner explained the benefits of this collaborative approach: “Let’s say you were a Nigerian telco and launching satellites just to cover Nigeria,” he said, “as those satellites traverse and leave Nigerian airspace [they] sit idle until they come back around to target the Nigerian region. But, by being part of a broader constellation, as those satellites pass over other areas and other jurisdictions where we have customers, your satellite can then start to provide a service to those regions as well.”
The CTC-0 prototype, based on an Endurosat 8U model, is followed by the 16U CTC-1 slated for launch next year. Spacecoin plans to progress to microsatellites for enhanced performance. Gardner highlighted their commitment to open-sourcing designs: “We will also be open-sourcing our designs for our payload and technology,” he added, “so that other satellite companies, manufacturers, or other people who are interested in the space economy can participate in the network. Over time, as other companies join our network, it starts to become increasingly decentralized.”
Utilizing funding from Gluwa, Spacecoin is developing additional satellites to expand the constellation. Initial satellites will offer connectivity in the hundreds of kilobits per second range, supporting text messaging and small device tracking. Future iterations will aim for higher data rates to enable voice calls.
The company has identified significant market demand for low-data-rate services among the 2.6 billion people lacking internet access. Gardner cited an example: “One of the prospective clients we’re speaking to in India told us that they have 20 million fishermen in southern India who every day go out to sea with zero connectivity. And they are very interested, even at the most basic level, if they can provide SMS capabilities … to these fishermen.”
Spacecoin projects monthly internet costs of around $1-2 per user in emerging markets through its blockchain-based infrastructure sharing. Initial testing will occur in Nigeria, which has granted the venture an MSS spectrum license.
While Spacecoin faces competition from established players like Viasat and Iridium, and initiatives by SpaceX using cellular frequencies, its decentralized, blockchain-based approach offers a unique value proposition in connecting the unconnected.