South Korean satellite operator KT SAT is interested in the possibilities of blockchain for the satellite industry

The company will reportedly hold special events focusing on blockchain and other tech.

South Korean satellite operator KT SAT has expressed its interest in implementing blockchain technology, according to local news outlet EDaily.

KT SAT – owned by South Korea-based company KT Corporation – has 50 years experience as the country’s only satellite operator, and has formed a workgroup named KT SAT Eco Alliance to discuss the benefits blockchain tech could bring to the satellite industry.

Announced on November 22 during the KT SAT Partners Day, the new venture aims to bring together companies focusing on a variety of focuses, including cybersecurity and distributed ledger technology, as reported by Coin Telegraph.

KT SAT will be holding special events dedicated to major information and communications technology fields such as password security, blockchain, and maritime satellite communication, along with regular workshops and seminars.

“In order to lead the domestic and global satellite market, we must continue to search for new services through new ICT convergence.” said KT SAT CEO Han Won-sik during the event. “We are actively supporting the Eco Alliance, We will look for business opportunities that can provide total solutions and platform services.” [Source: BC Focus]

Last month, blockchain company ConsenSys acquired asteroid mining firm Planetary Resources Inc. in an asset-purchase transaction, which reportedly reflects the company’s belief in “democratizing and decentralizing space endeavors to… unlock untapped human potential.”

Before that, space firm Spacebit had expressed a similar interest, announcing plans to leverage blockchain technology to increase public access to several space programmes by tokenizing commercial space missions.