Nexus, the cryptocurrency partnered with Galactic Sky and Vector Space Systems had a massive week, with its price doubling and its market cap increasing significantly. For months the price stayed anywhere between $3-4, but this week jumped to over $10 and seems to have found a new floor in the range of $12-14.
At the centerpiece of Vector’s vision is a plan to send cube satellites into space that will power a decentralized internet and blockchain that governments or traditional competitors can’t take down.
According to a press release published last month:
“Vector, a nanosatellite launch company comprised of new-space and enterprise software industry veterans from SpaceX, Virgin Galactic, McDonnell Douglas, Boeing, Sea Launch and VMware, today announced a partnership with Nexus to host its decentralized cryptocurrency in space using Vector’s GalacticSky Software-Defined Satellite platform. Nexus will be the first company to deploy a cryptocurrency on a satellite orbiting the earth. This partnership between Vector and Nexus highlights the unique use cases for GalacticSky’s technology and further proves the versatility of the platform. Additionally, the partnership allows future Vector customers to pay for launches using Nexus’ cryptocurrency, NXS.”
The statement noted that, “By hosting NXS in space via GalacticSky, Nexus is no longer tied to a nation-state and can create the backbone for a more decentralized financial ecosystem.”
As Nexus utilizes a satellite virtualization platform through GalacticSky, it can then “distribute its blockchain across multiple satellites, providing it enhanced reliability and performance.” By using “secure cryptocurrency” and a “decentralized peer-to-peer network,” Nexus will grant “greater freedom and transactional transparency for global access to financial services.”
The press release went on to say that:
“With Bitcoin’s valuation at an all-time high, people are beginning to accept cryptocurrency as a real form of payment, but there are still problems with storage and ownership. The capabilities provided by the GalacticSky platform, combined with the flexibility of Vector’s launch model, bring us one step closer to accomplishing our mission of providing the world with a decentralized currency that can be accessed virtually anywhere, anytime.
Over the last year, we’ve made many advancements in order to solidify our standing as a leading nanosatellite launch company. ‘Housing Nexus’ cryptocurrency on our GalacticSky platform not only validates our proof of concept but demonstrates how prolific this opportunity is for startups looking to innovate in space without the need to build their own satellite.”
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John Vibes is an author and researcher who organizes a number of large events including the Free Your Mind Conference. He also has a publishing company where he offers a censorship free platform for both fiction and non-fiction writers. John is currently battling cancer , and will be working to help others through his experience, if you wish to contribute to his treatments consider subscribing to his podcast to support at https://www.patreon.com/johnvibes