Ethereum-focused venture studio ConsenSys has acquired asteroid mining company Planetary Resources through an asset-purchase transaction. The specific terms of the agreement were not disclosed.
Based in New York, ConsenSys is developing a variety of applications which operate on the global distributed computing platform. Its focus is on facilitating the empowerment of people and enabling decentralized governance through the development of software tools that devolve power from the traditional “command and control hierarchies inappropriate for a networked world.”
Founded in 2009, Planetary Resources is engaged in the exploration, extracting and refining of resources from asteroids. To date, the company has launched two test satellites to orbit. Arkyd 3 Reflight (A3R) was launched and successfully transported to Earth orbit in April 2015 and was deployed from the International Space Station via the NanoRacks CubeSat Deployer in July 2015. Arkyd 6, the company’s second satellite, was successfully placed into orbit in January of this year.
ConsenSys acquired the asteroid mining company to bring “deep space capabilities” into its ecosystem. As part of the deal, Planetary Resources’ President and CEO Chris Lewicki and Counsel Brian Israel will be joining ConsenSys to “expand humanity’s economic sphere of influence into the solar system.”
Joe Lubin, Ethereum Co-founder and ConsenSys Founder, said that he admire Planetary Resources for its world class talent, its record of innovation, and for inspiring people across our planet in support of its bold vision for the future.
“Bringing deep space capabilities into the ConsenSys ecosystem reflects our belief in the potential for ethereum to help humanity craft new societal rule systems through automated trust and guaranteed execution,” said Lubin. “And it reflects our belief in democratizing and decentralizing space endeavors to unite our species and unlock untapped human potential. We look forward to sharing our plans and how to join us on this journey in the months ahead.”
ConsenSys will reportedly operate its space initiatives out of Planetary Resources’ former facility in Redmond, WA.
“Ethereum smart contract functionality is a natural solution for private-ordering and commerce in space — the only domain of human activity not ordered around territorial sovereignty — in which a diverse range of actors from a growing number of countries must coordinate and transact,” said Israel.
Source: Read Full Article