SpaceChain Opens UAE Office to Adopt Space-as-a-Service Adoption in ME

SpaceChain announced Thursday the opening of its UAE office in Abu Dhabi to mark its venture into the growing space sector in the Middle East (ME). 

Functioned and incorporated under the legal entity of SpaceChain in Middle East and Nprth Africa (MENA) Ltd, the new office is located at Hub71, Abu Dhabi’s global tech ecosystem. The company will lead the development and planning of joint space-blockchain initiatives and projects in the (MENA) region.  

As such, the establishment of SpaceChain’s UAE office is a landmark forward in progressing SpaceChain’s decentralized satellite infrastructure (DSI) for fintech and business applications. 

It is also spreading its space-as-a-service capabilities to communities and enterprises across the MENA region to create a next-generation infrastructure for the blockchain industry in outer space. – separate this into two simple sentences, this is too big. 

SpaceChain launched six blockchain-enabled satellite payloads into space to realize its decentralized satellite infrastructure (DSI) vision.  

“Being part of the Hub71 community places SpaceChain at the gateway to the burgeoning space industry in the MENA region.   

Our existence alongside other high-growth tech companies will allow us to contribute to skills and collaborate with leading influential players in Abu Dhabi’s growing innovation ecosystem interested in capitalizing on the New Space Economy,” said Zee Zheng, SpaceChain co-founder CEO.  

“The space industry in the Middle East is quickly increasing with strong support from the UAE government and its planned economic expansion from oil. We are excited to be promoting industry growth by helping regional enterprises transition into space-based businesses by integrating space and decentralized blockchain technology,” he added.  

The company in the MENA region will cooperate closely with organizations start-ups, fintech arenas, and blockchain within the region to expose growth opportunities and business across several service offerings. The offerings include space commodities exchange, e-wallets, micro-services that connect Earth observation service providers with decentralized finance (Defi) applications user communities. – separate this in two simple sentences, this is too big. 

It is worth mentioning that the UAE government hired strong support in developing a vibrant space industry across the region. At the same time, the National Space Strategy 2030 purpose is to improve the space sector’s contribution to the national economy and endorse the UAE’s regional and international presence in the space industry.  

It also sets the overall framework for the space sector and activities in the UAE for the years leading up to 2030, including government activities linked to commercial activities, space and scientific activities approved by the private and public sectors, and research and development (R&D) centers and academic institutions.  

The country was also among the first to launch a mission to Mars – founded in July 2020; the Hope Probe (aka Emirates Mars Mission) was the first uncrewed space exploration mission to Mars to study weather events in the lower atmosphere of the red planet.  

According to Euroconsult’s market intelligence report on government space programs, space spending in the MENA region has almost doubled during the last decade, from US$755 million in 2010 to nearly US$1.3 billion in 2020.