Why would a blockchain company buy a satellite company? Well, Consensys is also a data company. ⋆ Crypto New Media
It?s been two weeks since ConsenSys entered the satellite business. It befuddled the company?s observers to see a blockchain company, tasked with promoting Ethereum?s use, lay down what was likely hundreds of millions of dollars to buy one of the world?s premiere space startups. But the answer might lie in what ConsenSys can do for [?]
- Considering the wealth of data the company just absorbed, ConsenSys might have just established Ethereum as the inevitable blockchain of record.
- I would not take that suggestion back, but there is something more immediate ConsenSys might be doing.
- Through Ethereum smart contracts, geospatial information can be recorded and confirmed on the Ethereum blockchain — or any number of second layers or sidechains — then relied upon for public record or private business.
- Add to this ConsenSys now controls a treasury of data it can sell, and it has expanded its portfolio of products and services pretty nicely — a smart move for any company, blockchain or not.