SpaceX to Launch 1,600 Starlink Internet-Providing Satellites into Orbit, Can Blockchains Benefit?

Bein Crypto issued a very interesting article recently titled SpaceX Launching 1,600 Internet-Transmitting Satellites – Will Cryptocurrency Networks Get Stronger?

The article is referring to the Federal Communication Commission’s approval of a SpaceX application to launch nearly 1,600 internet-transmitting satellites into space. The satellites are posed to improve internet connectivity and to fly at a low altitude to prevent “space junk,” which has been cited as a serious problem by NASA.

Gwynne Shotwell, SpaceX president, said in a statement concerning FCC approval, “This approval underscores the FCC’s confidence in SpaceX’s plans to deploy its next-generation satellite constellation and connect people around the world with reliable and affordable broadband service.”

It also seems that SpaceX is running on a tight deadline and that thing are moving fast. An article on the Verge states, “The FCC’s approval of this constellation is conditional on SpaceX being able to launch at least half of these satellites within the next six years. SpaceX said in its November filing that it plans to beat that deadline.” Moreover, Shotwell also noted in a statement, “Starlink production is well underway, and the first group of satellites have already arrived at the launch site for processing.”

Bein Crypto’s article indicates that blockchain companies working on the IoT (Internet of Things) have the most to gain from the satellites. To support its position, it refers to IOTA’s plans to incorporate “smart wallets” in automobiles, a technology that requires strong internet connectivity. With SpaceX’s satellites, it may allow for information to be transmitted faster and at a lower latency. It also refers to blockchain-based projects, and that they may experience a boom as well, and the entire cryptocurrency space due to dispersed nodes that strengthen decentralization.

Well, anything is indeed possible.

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