Updated: Sep 18
Recently When I watching a video of Jeff Bezos, In that Video, When he describing the Vision of his Aerospace Company Blue Origin. He uttered these words “Mark Zuckerberg, In his dorm room, could create this half-trillion-dollar market cap company called Facebook. But in space today it’s impossible for a somebody like a college kid in their dorm room to create a great space company because the price of admission is too high it starts in the hundreds of millions of dollars and goes up from there and so we want to build reusable space vehicles that lower the cost of access to space to such a sufficient degree that the next generation of kids can start space companies in their dorm room and we can have a dynamic thing and then once that happens we’ll start moving all heavy industry and polluting industry all that will be moved to space” From Above Statement, Especially the last few lines clearly indicate that the motive of Space exploration is not only about finding new homes for humans, it is also about finding a new source for resources & raw materials and also a new place for Polluting Factories. From Observing the Space Industry, Terraforming our neighbour planets in our solar system into a habitable place for humans is still a big long task. But transforming our neighbour planets into as a source for raw materials and place for setting up polluting factories is not far away, especially after building a more cost-effective reusable space vehicle, is likely to happen more. So I guess, Industry 5.0 will revolve around Industrialization in space. If not Industry 5.0, at least it will be Industry 6.0.
Deducing a Grand Vision for Industry 5.0
1. BlockChain and It’s Application in Space Industry.
A Blockchain is a shared, trusted, public database of all transactions in a network. The network stores all transactions in cryptographically secured fragments of data called “blocks” that are “chained” together to form a digital ledger of transactions.
In other words, blockchain is a new type of database. Instead of a centralized or decentralized database on one or more servers, a blockchain database is installed on individual computers used by the people who use the database. In fact, a copy of the same database is installed on every computer of every user who uses that database. There is no central authority. The power is now distributed across the entire network of users of the database. Power has been decentralized. Any transaction in that database must be validated by all the participating members. It requires the consensus of all participating computers. it is almost Theoretically hack-proof. Because a hacker would need to change the information on hundreds and likely thousands of computers in order to get the authority to make the change. This Blockchain has many applications, But I deduce applications such as Assert Tokenization, Initial Coin Offering using blockchain has great potential in Space Industry.
Space Asset Tokenisation
Asset Tokenization is the process of converting some form of an asset into a digital token that can be moved, recorded, or stored on a blockchain system, where the asset can be manipulated as a digital token. Tokenizing an asset would enable one to manage its value exchange based on the contract written into the blockchain network. Enabling a crypto token-based ownership of space assets including spacecraft, satellites, and potentially, astronomical bodies such as asteroids.
Space Financing through Initial Coin Offering
An Initial Coin Offering (ICO) is a fundraising mechanism for cryptocurrencies, combining the concepts of an Initial Public Offering (IPO) and Crowdfunding, in which an entity such as a start-up can raise funds for its new project by offering a digital token to the investors. This Alternative token-based financing for space missions through ICOs reduces the barriers to raising funding by democratizing access to finance.
2. AI and It’s Application in Space Industry.
To Simplify the complexity, I can explain this with a simple analogy. Let’s Consider If technology is our labour in space industrialization, then Self Driving Vehicles & Robots are our hands & Legs, Computer Vision & Sensor Fusion will be our Eyes & Ears. 3d Printing Technology will be medicine, Deep Learning will be Brain. Artificial intelligence in one or other way closely related to all of these technologies. What I coming to Say is a Combination of all these technologies has a great potential in Space Mining and Space Industrialization.
I like to explain briefly the basics of some of these technologies which can be very helpful in space exploration.
Computer vision is a field of artificial intelligence that trains computers to interpret and understand the visual world. Using digital images & videos from cameras, So it's not a big task in the near future to employ automated machines in space.
Sensor fusion is the ability to bring together inputs from multiple radars, lidars, and cameras to form a single model or image of the environment around a vehicle. The resulting model is more accurate because it balances the strengths of the different sensors.
Deep learning is a subset of machine learning where artificial neural networks, algorithms inspired by the human brain, learn from large amounts of data.
Q-learning is a model-free reinforcement learning algorithm to learn a policy telling an agent what action to take under what circumstances. It does not require a model of the environment, and it can handle problems with stochastic transitions and rewards, without requiring adaptations.