The blockchain firm that was established by Ethereum’s co-developer, Joseph Lubin, has moved on to purchase Planetary Resources Inc., an American asteroid mining firm. An October 31 publishing stated that Consensys had purchased the mining company through what was known as an asset-purchase transaction. The mining company’s president, Chris Lewicki, and Brian Israel – counsel of the firm – have both now joined the Lubin blockchain firm following the purchase of their firm.
The purchase of the mining firm by Consensys is intended to help the purchaser access and utilise “deep space capabilities” according to the announcement made.
The asteroid mining firm was founded back in 2009 under the name Arkyd Astronautics. The company is into the studying of asteroids – researching and extracting resources from these asteroids for refining. The firm has made some $50 million from its investors along with two satellites released into orbit in this year alone.
Joseph Lubin mentioned, when asked about the acquisition,
“it reflects our belief in democratizing and decentralizing space endeavours to unite our species and unlock untapped human potential.”
The president of Planetary resources, Chris Lewicki, is a former NASA employee who worked as Flight Director at the Jet Propulsion Labs. He “supervised” deep space projects like the Phoenix Mars lander, the Spirit Mars rover and the Opportunity Mars rover.
Counsel Brian Israel is a former official of the State Department’s Office of the Legal Adviser in the United States. He explained
“Ethereum smart contract functionality is a natural solution for private-ordering and commerce in space in which a diverse range of actors from a growing number of countries must coordinate and transact.”
The Ethereum co-founder earlier in October purchased a rival firm to Ethereum, DrumG Technologies, for about $6.5 million. What Lubin is aiming at with these diversified purchases is still unknown however.
Consensys also a deal with Xiongan New Area government to help integrate blockchain into the development of the city to help make it a modern smart city.
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