The New Space Economy is expected to reach a total market value of US$ 1 trillion by 2040. In the last 5 years the number of operational satellites in low Earth Orbit (LEO) skyrocketed from 800 to 12.000, and there are currently over 500.000 new satellites planned. Collision debris are the #1 risk for space structures and crews – there are millions of untracked debris in LEO, and the absence of binding global regulation increases the risk of collisions. Stakeholders – satellite operators, data providers, regulators – face enormous challenges: location data is sourced from single Space Situational Awareness (SSA) providers (high risk), the data is largely unverifiable, continent-sized errors are commonplace, and geopolitical fragmentation is a barrier to open information exchange. Satellite fleet operators spend $2 billion per year on maneuvers that could be avoided by more accurate data and better coordination. No single company, government agency or centralized initiative is or will be able to provide technically accurate and politically neutral satellite location data to the international space industry with the level of trust and privacy that is required. A different type of solution is urgently needed.
SpaceDAO is working on a pioneering blockchain-based platform and marketplace for decentralized governance of space assets. Our initiative has received industry recognition by the European Space Agency (ESA) and graduated from the Creative Destruction Lab Accelerator as a massively scalable solution for Space Traffic Management and Disaster Response. The SpaceDAO platform on COSMOS will aggregate data from multiple Space Situational Awareness (SSA) providers, establish a consensus on the most accurate location data, and provide consensus-enhanced, privacy-preserving collision alerts to stakeholders such as public and private fleet operators and regulators. We will incentivize data providers to achieve and maintain the highest accuracy level and also operators who adhere to sustainable practices in space.
Key Features:
- Smart Contract Development: Create a set of smart contracts that enable multiple space situational awareness (SSA) providers to submit orbital data and collision predictions.
- Consensus Mechanism: Implement a blockchain-based consensus algorithm to validate and aggregate data from multiple sources, improving the reliability of collision predictions.
- Integration Framework: Develop an API and integration framework to allow easy connection with existing space traffic management systems and data providers.
- Incentive Structure: Design a communication and reward system to foster accurate data submissions and consensus participation.
- Governance Module: Implement a basic governance structure allowing stakeholders to propose and vote on system parameters and upgrades.
We believe a partnership between SpaceDAO and COSMOS would be a natural, long-term, mutually beneficial initiative from a technical, business, marketing and community development perspective. The specific benefits the current grant proposal will bring for Cosmos are detailed further ahead in this application form.
