Gluwa to Launch Low Earth Orbit Satellite in December
CryptoNewsTerminal Staff08 Sep, 2024
Gluwa to Launch Low Earth Orbit Satellite in December
Gluwa, the developer of the credit coin (CTC) project, is set to launch its first low-orbit satellite in December to test the feasibility of operating a blockchain infrastructure through a satellite-based communication network. In an interview with Money Today, Gluwa CEO Oh Tae-rim said, “We will launch the first low-orbit satellite in December this year to test the possibility of operating blockchain infrastructure through a satellite-based communication network.” He added, "We will launch the second and third satellites in May next year to verify the possibility of operating a stable communication network in various frequency bands and plan to operate a credit coin infrastructure.” Gluwa's project aims to establish a decentralized credit system using blockchain technology. The company believes that its satellite-based blockchain infrastructure will enable it to provide its services to remote areas that lack access to traditional internet infrastructure. If successful, Gluwa's project could have a significant impact on the development of blockchain technology and its applications in various industries, including finance, supply chain management and healthcare.
