Venture Capitalist Tim Draper Endorses SpaceChain CEO Zheng Zuo and Joins as Advisor

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SINGAPORE / ACCESSWIRE / February 19, 2018 / Zheng Zuo, blockchain expert, space-tech innovator and founder of SpaceChain is receiving an endorsement from Silicon Valley venture capitalist Tim Draper. Mr. Draper has also joined as advisor and investor of the blockchain-based satellite system.

"I am excited to make public my decision to add … SpaceChain to my portfolio," said Draper. "Under [Zheng Zuo's] leadership, SpaceChain will create a new ecosystem that connects millions of businesses, developers, and consumers with easy-to-access aerospace and blockchain technology."

SpaceChain is building the world's first open-source, decentralized satellite network. The low Earth orbit (LEO) satellite network will become a platform for data transmission, storage and application development. An open-source operating system, SpaceChainOS, will provide a blockchain sandbox that any developer can utilize for rapid development, testing and deployment of decentralized applications (DApps).

"I am excited by the vision and mission to create an open-source technology that will develop accessible, blockchain, decentralized technologies," said Draper. "The Draper portfolios, including investments in Space X, Planet, Iceye, Kubos, Bagaveev, and others, show our focus on space-based technologies. Alongside investments like these, we believe we can develop and help SpaceChain accomplish its mission. I am especially excited to advise [Zheng Zuo] on launching the first blockchain nodes to space in 2018."

In early February 2018, SpaceChain launched and tested the world's first blockchain satellite.

"The launch is a momentous step forward towards creating an open-source problem-solving model that optimizes collective intelligence," said SpaceChain CEO Zheng Zuo. "We aim to revolutionize the space industry by enabling better utilization of space, accelerating discovery and enhancing access to new technologies across the industry."

Tim Draper said "SpaceChain's foray into space will successfully create a decentralized environment that facilitates advances and collaborations at a fraction of the cost typically associated with the industry."

Mr. Draper is one of Silicon Valley's most successful VCs. He was listed #1 Most Networked Venture Capitalist by Always On and #98 on the 2014 Worth Magazine 100 Most Powerful People in Finance. In 2013 Tim Draper launched Draper University of Heroes, which offers crash-course programs in entrepreneurship and blockchain. Mr. Draper is an early investor of bitcoin, SpaceX and Coinbase.

SpaceChain, Monday, February 19, 2018, Press release picture