The world's population has broken the 7 billion person milestone. Out of those people, an estimated 6 billion people currently have access to cellphones. To put that into perspective, only 4.5 billion of those people have access to toilets. These cell phones, combined with the use of decentralized and inexpensive cube satellites, will make it possible for all the people on earth to have access to currency.
Bitcoin in space is not a new idea. It is an idea that graced the minds of brilliant men who first fell upon cryptocurrency technology.
The idea is that Bitcoin, other cryptocurrencies and networks in space can be broadcast everywhere on earth. Using decentralized cube satellites to broadcast the blockchain and even a decentralized internet to populations who currently have no access or access is severely restricted.
Then on the ground, with the use of mesh networks, decentralized satellite up-link node stations all connected with point of sale devices and individual technology communication devices, the network will continue to decentralize and expand.
This idea is brilliant but no one has been able to make it come to a reality... Yet.
It's an idea that Jeff Garzik (Core Bitcoin developer) attempted to bring alive with Dunvegan Space Systems. Mainly a one man mission with a passion, he was unable to attain the resources to make it happen. This has not stopped him or others within the community and outside to continue to push for a free and decentralized network.
Recently Elon Musk (Lead Founder of Space-X) requested permission from the FCC to allow for testing of high powered radio signals to earth from satellites meant to broadcast free WIFI to the world. Realistically, this project is still four years out in development. Not a main focus on decentralized economies and definitely not incorporating Blockchain financial tech...yet.
Then there is James Cantrell (another founder of Space-X and owner of Vector Space Systems) and his focus specifically on these said systems. Research and development by VSS has not been rushed but continues to press on in specifically the micro satellite and rocket launch system business. It is estimated that Vector space is years ahead of competitors in making this a reality.
So what does Vector Space systems have to do with Bitcoin and cryptocurrency?
Colin Cantrell. This is the son of Vector Space Systems CEO, James Cantrell. Colin is the lead developer (and many would argue a cryptocurrency genius) of the cryptocurrency project called Nexus. Nexus is being developed to be the strongest encrypted cryptocurrency on earth. Other focused developments with Nexus is building the infrastructure and foundation to allow for widespread adoption.
Such technologies as Lower Level Protocol, Lower Level Libraries, Variable Nexus Proof Of Stake Interest, Trust Keys with reputation, 571 bit encrypted private keys to prepare for quantum computing, three channels of mining and trust to prevent 51% attack, decentralized checkpoints, fast and decentralized clocks, decaying algorithms for a slow and less disturbing decay of distribution of supply compared to block halving, reserve systems for mining and more... All mostly coded from scratch.
Incorporated in the economic model of Nexus is checks and balances which will allow anyone to be rewarded for maintaining the network based on time and trust without a massive use of energy. This is important as this allows anyone in the world to enter marketplace compared to fiat and other cryptocurrencies which require a lot of money and power (mostly political). It is also important that as adoption gains momentum, you do not overburden the energy system to facilitate fast and efficient transactions and keep it affordable enough anyone can enter.
"Not everyone has money but everyone has time"
Colin and James are both currently working on the very foundations of building a decentralized economic network which has the capability to reach everyone and actually work. From the root of the code in Nexus to the thousands of satellites that will orbit earth broadcasting Light Fidelity (Li-Fi) of the blockchain to the whole world, the development produced this far is no small undertaking.
This is a game changing event. This is quite literally as big as the creation of the Internet but far more powerful. For the first time the people of the world will be within reach of truly decentralized banking, government and information.
We see each cryptocurrency add something new to the table when it comes to advancing blockchain technology and giving it real world use.
Take Steemit for example: a decentralized and political neutral algorithmic social media website which pays the idea makers over the infrastructure owners. Instead of publishers getting paid over authors, they cut the middleman out. Just like Bitcoin did with the banks. The idea that authors should be compensated voluntarily is so successful, some authors on Steemit have made more than many authors writing articles have in a whole year!
Some cryptocurrencies are fads, some are hypes... But some have real value and add to the value of Bitcoin.
Space is very similar to the laws of international waters. Anything goes and no one can regulate effectively. It's truly a frontier looking to be conquered by mankind. Like any frontier, it offers freedom in exchange for exploration. Good luck regulating light.
What a perfect place for Bitcoin, something that needs space to grow, to grow... In space.
Nexus is not looking to replace Bitcoin. Nexus is looking to bring Bitcoin to the world with Nexus. Nexus means to link things together. To link Bitcoin with Nexus, Bitcoin with people and people with people.
Nexus is the next big thing. The Internet of the people, by the people and for the people. The We The People Network. Where a merchant can do business in Africa with a customer in China without the central banks or telecommunications industry being involved. Truly decentralized from the code to the satellite.
Some cryptocurrencies want to go to the moon. Nexus wants to bring crypto to earth. Nexus Earth. Will you join us?
Bitcoin Talk Thread:
Nexus Earth – Crypto – Bitcoin Cube Satellites
The Nexus Creature From Satoshi Island
About the Author:
Keith F. Smith is a member of the Nexus NXS cryptocurrency team working on decentralized systems and strong encryption. He is a father of one and step father of two. Keith has been a long time anarchist and advocate for stateless societies. He has helped organize Nation Wide End the Fed in Philly and campaigned for libertarian candidates.