Blockchain Tech

Blockchain company ConsenSys acquires asteroid mining company Planetary Resources

November 2, 2018

Blockchain company ConsenSys acquires asteroid mining company Planetary Resources

Blockchain software technology company ConsenSys acquired American asteroid mining company Planetary Resources. The company announced about the acquisition on its official webpage on October 31.

Founded in 2009 as Arkyd Astronautics and later renamed in 2012, Planetary Resources’ stated goal is to “expand Earth’s natural resource base” by developing technologies to harvest asteroids for their natural resources, including water and fuel. This would allow for spacecrafts to carry less of both as they make their ascent, as they would be able to restock and refuel in space. The end goal, according to the company, is to allow for the potential colonization of space.

“As sourcing water is the first step to creating a civilization in space, the initial mission will identify the asteroids that contain the best source of water, and will simultaneously provide the vital information needed to build a commercial mine which will harvest water for use in space,” the company describes its mission.

General Counsel Brian Israel and President and CEO of Planetary Resources Chris Lewicki, who has previously worked in NASA’s Jet Propulsion Laboratory, have joined ConsenSys. Other details of the deal are not disclosed.

According to Chris Lewicki, Planetary Resources has brought the promise of space resources irreversibly closer to humankind’s grasp in the last decade.

“I am proud of our team’s extraordinary accomplishments, grateful to our visionary supporters, and delighted to join ConsenSys in building atop our work to expand humanity’s economic sphere of influence into the Solar System,” he noted.

Founded in 2015, ConsenSys is a blockchain development comapny focused on building and scaling tools, disruptive startups, and enterprise software products powered by decentralized technology, specifically Ethereum. Founder Joe Lubin noted that Planetary Resources has world class talent, a record of innovation, and has inspired people all over the world in support of its bold vision for the future.

“Bringing deep space capabilities into the ConsenSys ecosystem reflects our belief in the potential for Ethereum to help humanity craft new societal rule systems through automated trust and guaranteed execution. And it reflects our belief in democratizing and decentralizing space endeavors to unite our species and unlock untapped human potential,” he added.

As reported, ConsenSys will operate its space initiatives out of Planetary Resources’ former facility in Redmond, WA.