SpaceChain Partners Elecnor DEIMOS to Develop Blockchain-enabled Credit Management and Payment Service for the European Space Agency-funded ECOMI Project

SpaceChain Partners Elecnor DEIMOS to Develop Blockchain-enabled Credit Management and Payment Service for the European Space Agency-funded ECOMI Project

PR Newswire

HARWELL, England, Oct. 8, 2020

The partnership underscores SpaceChain's commitment to democratise access to Earth observation services

HARWELL, England, Oct. 8, 2020 /PRNewswire/ -- SpaceChain UK Limited (SpaceChain) today announced a partnership with DEIMOS to collaborate under the project ECOMI – E-COMmerce platform for MIcro-geoservices. The aim of the project is to develop an e-commerce platform, store4EO, with blockchain-enabled credit management and payment services. Elecnor DEIMOS is a leader in providing systems engineering, ground segment, mission analysis, satellite integration, satellite navigation, Earth observation (EO), space situational awareness, and launchers. Through this partnership, SpaceChain will develop the underlying blockchain network that supports decentralised and transparent service purchase and distribution.

Funded by the European Space Agency (ESA), the ECOMI project is led by Elecnor DEIMOS to provide EO services to consumers in Europe and ESA partner countries. It also seeks to democratise access to EO services while ensuring secure and transparent credit management. The introduction of blockchain to the space-based e-commerce platform decentralises the distribution of services to consumers and facilitates transactions in a frictionless and transparent manner.

The store4EO e-commerce platform's goal is to facilitate the delivery of innovative EO services to various industries, the public sector and the general public easily, and securely reinforcing that the utilisation of EO services will become the new norm.

"Our partnership with Elecnor DEIMOS is an important milestone as we collectively uncover new possibilities with e-commerce and enable the commercialisation of EO services," said Nick Trudgen, Chief Commercial Officer and UK Director of SpaceChain. "Elecnor DEIMOS' industry-leading engineering solution and knowledge of space, combined with SpaceChain's expertise in decentralised infrastructure with blockchain provides an unmatched synergy for a reliable solution and unparalleled customer experience."

EO services coupled with blockchain technology are expected to enrich the industry as more business use cases continue to increase. Redefining the way EO services are distributed is one of the driving forces behind the integration of blockchain in the project while enhancing data processing in the digital and physical supply chains of tomorrow.

"We are redefining how EO services are reaching out to consumers, and are thrilled to team with SpaceChain, given its innovation in integrating blockchain with space technologies," said Koushik Panda, service strategy manager of ECOMI Project. "Through our shared vision to build a platform economy for EO, we are now one step closer to delivering sophisticated EO services and data to the wider public. Our ultimate goal is to create a more efficient market for EO, and in the long run, enable EO services to address industry issues that were once impossible to surmount."

The ECOMI project is expected to be deployed in the first quarter of 2021. More information about the project can be found on store4eo.com, or follow the project on Twitter and Linkedin.

About SpaceChain

SpaceChain fosters decentralized infrastructure for the New Space Economy. By combining space and blockchain technologies SpaceChain is making the development of space applications easier and making space more accessible. SpaceChain UK Limited is a subsidiary of SpaceChain Limited. For more information, visit www.spacechain.co.uk

About Elecnor DEIMOS

Elecnor DEIMOS participates in the majority of ESA programmes, providing systems engineering, ground segment, mission analysis, and design and onboard software solutions, as well as satellite integration, in the fields of Science and Exploration, Satellite Navigation, Earth Observation, Space Situational Awareness, and Launchers. Our capabilities include the development of turnkey operational systems for aeronautical and maritime applications, both civil and military, including UAV systems and solutions. For more information, visit www.elecnor-deimos.com/about-us/

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