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Ripple Co-Founder Jed McCaleb Launches Space Venture Vast

UTC by Darya Rudz · 3 min read
Ripple Co-Founder Jed McCaleb Launches Space Venture Vast
Photo: Unsplash

Currently, the company is recruiting staff and attracting former employees of companies like SpaceX and Blue Origin. It is known that one of the key advisers is Hans Koenigsmann, who was previously the top engineer at SpaceX firm.

Crypto pioneer, the founder of the first major Bitcoin (BTC) exchange Mt. Gox, as well as co-founder of Ripple and Stellar (XLM) Jed McCaleb has announced the launch of his own space startup Vast that will focus on developing artificial-gravity space stations to expand humanity in space.

The billionaire said:

“Vast’s mission is to enable a future where millions of people are living across the solar system. The solar system has an incredible amount of resources. If we had access to those resources, our civilization could grow and thrive while preserving our planet. Once large populations of humans can live in space, we can create the industry and infrastructure needed to access those resources at-scale.”

Vast claims to provide both artificial and zero gravity environments, enabling long-term human productivity in space. In other words, the venture aims to allow people to use all the resources of space. And it wants to be one of the first companies to provide multiple stations during the explosion of activity in orbit and in space generally.

It is not clear who is backing the venture. However, Jed McCaleb is worth billions of dollars, and most probably, he has invested a lot in Vast development. He plans to self-fund the company through the launch of its first habitat but wants it to ultimately be a sustainable enterprise.

Currently, the company is recruiting staff and attracting former employees of companies like SpaceX and Blue Origin. It is known that one of the key advisers is Hans Koenigsmann, who was previously the top engineer at SpaceX firm.

ISS to Retire

Notably, in 2030, the International Space Station is going to retire. Instead of working in space, it will be transitioned to a low-Earth orbit destination. It will plunge into an uninhabited area of the Pacific Ocean in January 2031. To replace ISS, NASA has already signed agreements with three private companies. They will launch commercial space stations for use by both private companies and government astronauts. These companies include Blue Origin, Nanoracks LLC, and Northrop Grumman Systems Corporation.

As a result of ISS retirement, private companies will be able to maximize their capabilities. For example, Vast is planning to employ SpaceX’s Starship in order to get its station in orbit. Creating artificial gravity, Vast hopes to attract a variety of customers. Vast’s station can house a population of 40+. The station spins to provide Earth gravity at its outer extremities and partial gravity along its length for Mars, Moon, and asteroid analog environments. Due to its underlying technology, Vast seems to be far ahead of its competitors.

Business News, News, Technology News
Darya Rudz
Author Darya Rudz

Darya is a crypto enthusiast who strongly believes in the future of blockchain. Being a hospitality professional, she is interested in finding the ways blockchain can change different industries and bring our life to a different level.

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