After being bombarded by interested cryptocurrency companies, SpaceBelt has secured a partnership that will hopefully help them address the demands of the cryptocurrency space.

In a press release, Cloud Constellation Corporation announced that they are teaming up with Singapore-based company SpaceChain. Cloud Constellation is the company behind SpaceBelt, which is building a ‘hack-proof, apocalypse-proof, and government pressure-proof’ data storage in space. And SpaceChain is a company working to bring blockchain applications to space and integrate aerospace industry resources to with common business processes on Earth.

Together, the two are spearheading an unprecedented scale of security for cryptocurrency-related operations, such as cold wallets and cryptocurrency exchanges.

“Cloud Constellation and SpaceChain will collaborate to enable services that combine the secure, global data storage and communications capabilities of SpaceBelt™ with applications based on SpaceChain’s open source standard, SpaceChain OS. Services anticipated, but not limited to, include space-based cryptocurrency cold wallets and payment services that can be accessed by enterprise organizations, exchange operators and, ultimately, mobile end users,” they wrote in a press release.

“We are glad to find partners that share the same passion as we do. Cloud Constellation has made tremendous progress in building a data vault in space, and we at SpaceChain are excited to collaborate with them to provide our operating system and blockchain technical support to extend its use case and security level,” Zheng Zuo, co-founder and CEO of SpaceChain, said in the press release.

Recently, we interviewed Cliff Beek, president and CEO of Cloud Constellation Corporation about SpaceBelt, and he has explained that their project has been gaining a lot of interest from cryptocurrency companies. SpaceBelt is a constellation of low Earth orbit (LEO) satellites that will store highly sensitive data and move them around to anywhere in the world—all without having to be connected to the Internet.

This partnership is definitely good news for the blockchain industry.

“The combined technologies of SpaceBelt and SpaceChain will enable us to offer significant innovation and security to the cryptocurrency market. There hasn’t been a more exciting time to be in the space industry,” Beek says.

Dennis R. Gatens, vice president of channel management and marketing for Cloud Constellation Corporation, said in the press release:

“As cryptocurrencies and blockchain become embedded in the global economy, key infrastructure elements will be necessary in order to provide secure transactions and global connectivity. The intersection of our organizations’ innovative visions will transform the traditional applications for satellites into space-based cloud platforms for commerce.”

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