Benzinga | Sep 28, 2021 04:10PM EDT

Spire Global, Spacechain Partner To Demonstrate Blockchain Technology Computation Possibilities In Space

* Spire Global Inc (NYSE:SPIR) has partnered with SpaceChain, a global space-as-a-service solutions provider developing the world's first decentralized satellite infrastructure (DSI). Spire and SpaceChain are launching a mission to demonstrate the feasibility of blockchain technology computation in space and resolve land-based centralized infrastructure issues.

* By deploying a solution in space, Spire and SpaceChain aim to maximize data security and increase the resiliency of computing operations.

* The integration of blockchain and space technologies helps create a Decentralized Satellite Infrastructure (DSI) on which Decentralized Satellite Applications (DSA) can be built and run without the need for any land-based infrastructure.

* Spire will utilize its "SABERTOOTH" supercomputing module, the company's fastest and most power-efficient embedded AI computing device, to fulfill a two-part mission with SpaceChain. Initially, Spire will conduct an on-orbit upload of SpaceChain's software to an existing satellite before further building out SpaceChain's capabilities via a payload on a new satellite, expected to be launched later this year.

* Price Action: SPIR shares closed higher by 1.57% at $14.26 on Tuesday.