Blockchain technology will accelerate space exploration by making the supply chains which produce the components for space missions more efficient. The National Aeronautics and Space Administration (NASA) is embracing blockchain technology, which will eventually result in the shortening and strengthening of space exploration supply chains.
Space exploration is extremely expensive, with NASA alone spending approximately USD 1.32 trillion when adjusted for inflation since its inception in 1958. And this is only the money that NASA spends on space exploration, not including the expenditures of the European Space Agency, Russia, China, or private corporations like Space-X, which also have major space programs. So far, mankind has only managed to get to the Moon, the closest celestial body by far. Costs will go up dramatically for interplanetary and interstellar exploration.
The reason space exploration is so expensive is that it requires many complex pieces of technology to make a mission successful, such as spacesuits, rockets, laboratories and spacecraft. These complex pieces of technology require materials from all over the planet during the manufacturing process, and this is where blockchain would be extremely useful.
With a blockchain-based ledger, materials for space exploration can be tracked in a transparent and immutable ledger. Even the most powerful computers in the world can’t hack a blockchain ledger, so this ledger would produce trust between manufacturers, distributors, and clients. The blockchain-based ledger would reveal inefficiencies in the space exploration supply chain, allowing NASA and other organizations to cut out unnecessary middlemen, shortening the time needed to produce space technology in addition to saving money. Also, any fraud in the supply chain would be obvious and easily traceable, and therefore could be eliminated.
A single missing component can stall the launch of a space mission, costing it dearly if the mission misses its launch window and has to wait for long periods for the next window – a possibility for interplanetary missions. If every component is tracked in a blockchain ledger, it would help ensure every component is in place so missions can launch on schedule.
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