Joseph Lubin’s Consensys Acquires Asteroid Mining Company 

Consensys, the blockchain firm owned by Ethereum’s co-founder, Joseph Lubin, has just acquired an American asteroid mining company known as Planetary Resources, Inc. The acquisition was done through an asset purchase transaction. This is according to the announcement made by the company on the 31st of October.

About Planetary Resources

Planetary Resources, Inc. Planetary Resources, Inc. was named Arkyd Astronautics when it was founded in the year 2009. The company deals on the extraction, exploration and refining of natural resources particularly asteroids. The company has more than 30 investors who jointly raised over $50 million for projects. Within the last six months, the company has sent two satellites into the earth’s orbit. The announcement was that Consensys has acquired Planetary Resources in a bid to use the blockchain to explore the deep space capabilities. The CEO of Planetary Resources Counsel Brian Israel, and the president Chris Lewicki, joined ConsenSys after the acquisition.

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Joseph Lubin, the founder of ConsenSys and co-founder of Ethereum said:

“The acquisition reflects our belief in decentralizing and democratizing outer space endeavors in a bid to unlock our potential and unite out species”.

Lewicki was part of the NASA Jet Propulsion team serving as the Flight director before joining Planetary Resources, Inc. He was in charge of Opportunity and Spirit Phoenix Mars lander and Mars rovers. Israel, was a legal adviser to the United States Department Office. He was also incharge of international legal dimensions of oceans, outer space and matters concerning international environmental governance.

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During the announcement, Israel said:

“The smart contract functionality of Ethereum is the perfect solution for commerce and private-ordering in space. It can be applied in various areas across several countries.

What Else Has Lubin Been Up To?

Last month, Lubin used $6.5 million to secure a stake with DrumG Technologies. DrumG Technologies is a startup that deals with distributed ledger or decentralized technology. The platform intends to enable the mass adoption of multiple distributed ledgers that will be interconnected and used in the corporate world.

In July, ConsenSys signed an MoU with Xiongan in China to create a smart city using blockchain technology. ConsenSys will advise the Xiongan government about software and blockchain solutions to establish a new generation smart city that will take the lead in blockchain innovation.

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