Ripple Co-founder Funds Space Station with XRP
Jed McCaleb, a prominent figure in the cryptocurrency industry and co-founder of projects like Mt. Gox, Ripple, and Stellar, is expanding his ventures beyond digital assets. His latest endeavor involves Vast Space, a space exploration startup aiming to launch Haven-1, the world's first commercial space station, by 2026.
Vast Space: A Commercial Space Station
Vast Space CEO, Max Haot, emphasizes that Haven-1 is not a luxury space tourism project. The focus is on productivity, crew cohesion, and mission success, supporting sovereign astronauts and privately funded individuals in achieving orbital objectives. Haot stated, "We are not building a luxury hotel in space; we are applying design to enhance crew cohesion, productivity, safety, and communication to help sovereign astronauts and self-funded private individuals achieve their important orbital mission objectives."
Launched in 2021, Vast Space is developing a station featuring artificial gravity and advanced infrastructure. The company plans to utilize components from SpaceX, including Dragon capsule docking systems, and integrate Starlink internet connectivity.
Successful completion of this project could see Vast Space replacing the aging International Space Station and potentially securing contracts with NASA.
McCaleb's XRP Investment in Vast Space
McCaleb's substantial investment in Vast Space is largely funded by the proceeds from his XRP token sales. He acknowledges the potential for significant losses (up to $1 billion) if the project fails but believes the risk is worthwhile. McCaleb commented, "It’s super important that people take this leap from where we are today to this potential world where there’s a lot of people living off the Earth. There aren’t that many folks that are willing to dedicate the amount of resources, time, and risk tolerance that I am."
McCaleb's departure from Ripple in 2013, followed by his later creation of Stellar, and the subsequent sale of his 9% stake in XRP between 2014 and 2022, generated roughly $3.3 billion. This led to criticism from some within the XRP community. However, McCaleb maintains he acted transparently, publicly disclosing his departure before selling his holdings and offering XRP holders an alternative through Stellar Lumens.
Despite past controversies, Ripple co-founder Chris Larsen expressed support for the project, viewing it as a sign of America's return to ambitious innovation. He stated, "America used to pursue new frontiers like this before skidding into bureaucracy and doubt. I’m rooting for Vast’s success."
The Impact of Crypto Investment
McCaleb’s venture highlights the significant potential of cryptocurrency investments to drive real-world developments in diverse sectors. This project showcases the far-reaching impact of blockchain technology beyond the digital realm.
Codeum, a blockchain security and development platform, offers services such as smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultations, and partnerships with launchpads and crypto agencies. These services are crucial for ensuring the security and success of blockchain projects like those involved in space exploration.