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The blockchain startup ‘Diana’ has some unearthly plans for something really special: a lunar registry with the help of distributed ledger technology (DLT) for the 50th anniversary of the Apollo 11 Moon landing. For this, a decentralized app (dApp) was launched on July 19 , which can help in registering and trading the moon’s land.
According to Article II of the United Nations Outer Space Treaty, the moon is a common heritage of mankind that no country can use or occupy. Nevertheless, the discovery of massive resources on the moon in recent years have been contributing to an increase in competition between different companies and countries for ownership of the moon’s land. Countries are now trying to create such laws that can help them make their way around the UN Outer Space Treaty.
Diana’s developers pointed out that the treaty doesn’t mention anything about private ownership so this gives a chance for private space development. The U.S. government ratified the Spurring Private Aerospace Competitiveness and Entrepreneurship (SPACE) Act of 2015, which allowed private space development. Two years later, Luxembourg also followed in its footsteps and passed a bill granting companies the rights to resources that they extract from asteroids or other celestial bodies in space.
Defining Ownership with Blockchain Technology
The Diana project coincides with the concept of combining distributed ledger technology (or its more advanced offspring, blockchain) with real estate and land property in developing countries. Currently, the unregistered property of individuals in developing nations such as Africa can be deprived or used by powerful people and companies. As a result, Rwanda is also trying to carry out land registrations using blockchain technology. Its purpose is to prevent ownership disputes with the help of data digitization on reliable blockchain technology.
Likewise, the purpose of Diana project is to clearly define the ownership rights of mankind to the land on moon through collective registration in which everyone is allowed to participate. Collective ownership is being offered by dividing and mapping out the moon into 3,874,204,892 cells on the blockchain, out of which only 2 billion cells that make up the front side of the moon (visible to the human eye) are available.
Not only can the participants select and register their property on the moon, but they can also transfer its ownership to a third party if they want to. This sure would make a wonderful gift for their loved ones.