As control of the internet and regulation of cryptocurrency dominate the news cycle, a team led by former Space-X Vice President Jim Cantrell, and his son Colin, is planning to innovate both of these technologies in a way that decentralizes and protects them forever.
In 2002, Cantrell left Space-X to pursue multiple other successful projects in the space exploration industry. Most recently, he founded Vector Space Systems with the goal of making commercial space ventures more realistic and affordable. At the centerpiece of Vector’s vision is a plan to send cube satellites into space that will power a decentralized internet and blockchain that governments or traditional competitors can’t take down.
According to a press release published this week:
“Vector, a nanosatellite launch company comprised of new-space and enterprise software industry veterans from SpaceX, Virgin Galactic, McDonnell Douglas, Boeing, Sea Launch and VMware, today announced a partnership with Nexus to host its decentralized cryptocurrency in space using Vector’s GalacticSky Software-Defined Satellite platform. Nexus will be the first company to deploy a cryptocurrency on a satellite orbiting the earth. This partnership between Vector and Nexus highlights the unique use cases for GalacticSky’s technology and further proves the versatility of the platform. Additionally, the partnership allows future Vector customers to pay for launches using Nexus’ cryptocurrency, NXS.”
The statement noted that, “By hosting NXS in space via GalacticSky, Nexus is no longer tied to a nation-state and can create the backbone for a more decentralized financial ecosystem.”
As Nexus utilizes a satellite virtualization platform through GalacticSky, it can then “distribute its blockchain across multiple satellites, providing it enhanced reliability and performance.” By using “secure cryptocurrency” and a “decentralized peer-to-peer network,” Nexus will grant “greater freedom and transactional transparency for global access to financial services.”
The satellites will also integrate with mesh networks on the ground to create a truly free and decentralized internet. Boiling it down to the most simple terms for comparison, mesh networks operate by combining information from various nodes in a system much in the same way that BitTorrent or blockchain technology does.
The team promises that these services will be financially accessible to the average person, and it has even been speculated that people could get paid in cryptocurrency to run nodes on the network.
In the press release, Colin Cantrell explained the importance of Nexus, saying that:
“With Bitcoin’s valuation at an all-time high, people are beginning to accept cryptocurrency as a real form of payment, but there are still problems with storage and ownership. The capabilities provided by the GalacticSky platform, combined with the flexibility of Vector’s launch model, bring us one step closer to accomplishing our mission of providing the world with a decentralized currency that can be accessed virtually anywhere, anytime.
Over the last year, we’ve made many advancements in order to solidify our standing as a leading nanosatellite launch company. ‘Housing Nexus’ cryptocurrency on our GalacticSky platform not only validates our proof of concept but demonstrates how prolific this opportunity is for startups looking to innovate in space without the need to build their own satellite.”
The Nexus team also stands out because their whole project and vision is deeply motivated by a desire to free the earth from the centralized systems that are bringing this planet to a breaking point.
This past summer, Nexus hosted a conference where they invited a wide range of freedom fighters to speak about cryptocurrency and its implications in the realm of politics, activism, social entrepreneurship. The conference saw prestigious speakers like G Edward Griffin, Ron Paul, Jesse Ventura and Judge Napolitano, as well as newer minds in the movement such as my co-author Derrick Broze or my good friend Sterlin Luxan, communications ambassador for Bitcoin.com. They even invited some of the staunchest critics of cryptocurrency, like Peter Schiff, to make their cases against the emerging technology.
Nexus is currently trading on major exchanges for just under $4, with a current market cap of $209,230,889 at time of publishing.