A startup blockchain buys a space startup in the strangest corporate acquisition of 2018 – Quartz


The Blockchain "venture production studio" ConsenSys has announced the acquisition of Planetary Resources, a space startup aimed at concentrating on the extraction of precious materials from asteroids, in an announcement that could establish a record for words d & # 39; order without meaning. (Please e-mail if you found better.)

"The Ethereum Intelligent Contracting Feature is a natural solution for private order and space commerce – the only domain of unordered human activity around territorial sovereignty – in which a wide range of Actors from a growing number of countries must coordinate and negotiate, "said Brian Israel, chief legal for planetary resources.

ConsenSys was launched in 2014 by Joseph Lubin, co-founder of Ethereum, the second largest cryptocurrency in circulation, and who recently wrote about the future of money for Quartz. ConsenSys, which attracted many investment bankers, was recently the biggest supporter of Civil's failed attempt to bring the blockchain to journalism.

Planetary Resources was founded in 2010 as Arkyd Astronautics with a series of big hitters: Israel has served in the Departmental State Office of the Obama administration looking at the legal dimensions of the outdoor space and CEO Chris Lewicki has worked at NASA on the Mars rover. He was considered one of the hottest startups in space at a time when Space X by Elon Musk and Blue Origin by Jeff Bezos were starting to make noise. Eric Schmidt of Google and Larry Page were among his investors.

"This is not the 24th century in Star Trek, and it's not the Star Wars fantasyland," Lewicki told Quartz in 2016. "We're going to see the process of resource development and mining asteroids with a lot of the same activity principles, many of the same financial instruments and with the same investment dynamics and risk tolerance that we see … drilling a well of oil ".

Both Lewicki and Israel will join ConsenSys in what is called an asset purchase, which probably reflects the fact that the planetary resources have failed to raise another round of funding at the start of this year. What will they do there?

"Bringing deep-space capabilities into ConsenSys' ecosystem reflects our belief in Ethereum's potential to help humanity create new systems of social rules through automatic trust and guaranteed execution," he said. stated Lubin in the declaration of acquisition. "It reflects our belief in democratizing and decentralizing space efforts to unite our species and unlock untapped human potential".

Alright then.

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