Exclusive: Spacecoin to launch first internet satellite in Dec

December 05, 2024 12:53 PM AEDT | By Investing

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Exclusive: Spacecoin to launch first internet satellite in Dec

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Investing.com-- Spacecoin will launch its first decentralized internet satellite later in December as part of a SpaceX rideshare mission, according to a press release seen by Investing.com.

The firm said it will launch its first satellite- CTC-0- on December 21. The mission will take off from the Vanderberg Space Force Base aboard SpaceX’s Falcon 9 rocket, as part of the Bandwagon-2 rideshare mission.

The mission is a collaboration between SpaceX and Exolaunch to put satellites from 22 different customers in space.

Spacecoin is a decentralized physical infrastructure network that plans to use low-orbit nanosatellites to provide internet access.

The firm said that the satellite launch was the first step in its plans to bring unfettered, decentralized access to the internet to underserved areas in the globe, such as emerging markets.

The December launch will be used to conduct a pilot test with partners in Africa and South Asia, and will be followed by more satellite launches and pilot tests in 2025. Spacecoin is aiming for a Q4 2025 launch of its services, according to a roadmap on the company’s website.

The service is built on the Creditcoin blockchain, and will use the layer-1 blockchain’s credit capabilities. The Creditcoin token was trading at around $1.6 on Thursday, up 139% so far in 2024, and has a market capitalization of about $644 million.

Spacecoin claimed the service will use direct-to-cell coverage technology, connecting directly with users’ phones and bypassing the need for ground infrastructure. It was not immediately clear whether the firm had received regulatory approval to provide the service.

Spacecoin said that the internet service will be managed by its blockchain-powered Spacechain protocol, keeping the service decentralized. The firm also estimated low monthly costs for operating the service- around $1 to $2 per user in emerging markets.

The service will be compliant with 3GPP industry standards, and will also use open source architecture.

Elon Musk’s Starlink, which is currently the biggest provider of satellite internet services, recently received clearance from the Federal Communications Commission to provide T-Mobile customers with direct-to-phone services.

This article first appeared in Investing.com

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