Ethereum Focused ConsenSys Buys An Asteroid Mining Company

Ethereum-savvy venture studio – ConsenSys recently revealed that they have purchased Planetary Resources, a space mining venture in hopes of mining asteroids within our solar system.

Announced on Wednesday by Planetary Resources, ConsenSys completed an asset-purchase transaction, effectively taking over the space firm and president & CEO Chris Lewicki & general counsel to Lewicki Brian Israel going over to the ETH focused startup as a result of the purchase. However, more details on the deal were not revealed.

Planetary Resources was founded back in 2012 with the sole purpose of mining asteroids within our solar system for resources.

Currently, the company has already launched a pair of satellites into Earth’s orbits and this includes the successful test of their infrared imager aboard their Arkyd-6 spacecraft. The company has since come into cash-flow problems after failing to obtain additional funding back in June.

Joe Lubin, the founder of ConsenSys, announced on Wednesday that he admired Planetary Resources due to their talent and track record. The acquisition of Planetary Resources will now be of great help with ConsenSys’s space initiatives said Lubin, adding:

“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 endeavours to unite our species and unlock untapped human potential.”

Lewicki, in a statement, went on to say that he’s  “proud of our team’s extraordinary accomplishments,” and went on the thank Planetary Resources past supporters and stated that going forward the company will continue with its work “to expand humanity’s economic sphere of influence into the solar system.”

“Over the course of nearly a decade, Planetary Resources has simultaneously pioneered technology, business, law and policy, and brought the promise of space resources irreversibly closer to humankind’s grasp,” said Lewicki, ending his statement.

Whoever said the sky is the limit with regards to blockchain technology was clearly wrong. It seems we’re reaching beyond our atmosphere. Could blockchain technology be the future of interplanetary mining or is this just science fiction? Let us know your thoughts.

Follow CoinBeat on Facebook, Twitter & Telegram
Subscribe to our CoinBeat Newsletter
Submit an article to CoinBeat
View live Marketcap Prices here