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JetSpecie

JetSpecie

Ukraine, Dnipropetrovsk region
Market: Another, Blockchain, Crypto currency
Stage of the project: Idea or something is already done

Date of last change: 28.11.2018
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Idea

JetSpecie is the first time creation of commercial marketplace for space debris removal based on blockchain technology. Substitution of traditional crypto mining process (which is wasting computer hardware, electricity for virtual coins) by space debris mining process (which is cleaning Earth orbit, boosting space technology development, develops new markets).

The business concept is: Remove 1 Kg of space debris and earn 1 JetSpecie coin. Then you could spend 1 JetSpecie coin for delivery of 1 kg payload to Sun-Synchronous Orbit.

Current Status

There is huge expansion in the space industry these days. The market is growing, the applications are revolutionary, but financing these projects is still a challenge, especially for small investors who believe in this revolution and want in. Space market brought $8.8 billion in 2017 with forecast of $27.18 billion by 2025. At the same time spaceflight market is considered as very tough for investments in comparison with “traditional” markets. New space systems require significant investments (hundreds of millions) and development time (several years). Governmental programs remain still the main driver for space market. Even recently funded ventures by private investors rely on government as one of the main customers for their services/systems.

Even crypto-market showed overhelming results in 2017-2018, many executives from aerospace business don’t consider blockchain market seriously and don’t have interest. Even some of them afraid to touch this issue, because a lot of scam happened there. At the same time this is very powerful instrument to raise money and there are a lot of positive examples for those, who treat this seriously (e.g. recent ICO by Telegram).

The World Economic Forum describes blockchain as one of the key technologies of the future. As a result, there is a proliferation of initiatives investigating the potential of blockchain in a variety of contexts beyond the well-known bitcoin cryptocurrency application.

For the first time in the history of International Astronautical Congresses (IAC), there was special session dedicated to The Nexus of Blockchain and Space at IAC 69, Bremen, October 1-5, 2018. (Special Sessions Program, October 2, 2018). This is very strong sign of the initial interest of aerospace communtity in the blockchain.

Making space rockets and satellites is not a discovery today. Operations at blockchain market with existing cryptocurrencies and introducing new ones is common today also. At the same time, there is huge opportunity and synergy to combine these two domains. Blockchain could serve as revolutionary investment platform for new space technology development. From other side spaceflight projects could bring significant trust to blockchain technology. It is perfect timing now to introduce blockchain to spaceflight and visa versa.

JetSpecie project (first time synergy of blockchain and spaceflight markets) was started to develop in March, 2018 and it is at the seed stage now. Business Plan and White Label Paper are available.

Market

There are two markets here. ICO market, which brought in $3.8 billion in 2017, beating venture capital funding (Bloomberg, January 24, 2018). Its growth is forecasted as 33% annually.

Space launch services market was USD 8.88 billion in 2017 and is projected to reach USD 27.18 billion by 2025. JetSpecie could capture 1-5% of each market.

Problem or Opportunity

The exponential growth of the satellites number compels satellite developers to actively seek more affordable space launch services. New launch systems are constantly daunting financial challenges.

From the other side we have space debris which is growing in exponential form around our planet. In the nearest future flying to space shall be compared to suicide missions. Nobody takes practical care to remove existing debris, because nobody is paying money for this. Market of space debris doesn’t exist. Space agencies and different institutions holding a lot of conferences and seminars on space debris problems – but there are no robust systems practically cleaning the space. Because – there is no commercial value for this.

ICO market was growing rapidly in 2017, even beating venture capital. But currently it is faced with the problem of finding new and long-lasting project ideas.

JetSpecie is using these challenges/opportunities and its goal is to create very profitable business for cleaning Earth orbit using blockchain crowdfunding.

Solution (product or service)

JetSpecie is substitution of traditional crypto mining process (which is wasting computer hardware, electricity for virtual coins) by space debris mining process (which is cleaning Earth orbit, boosting space technology development, develops new markets).

A satellite developer can remove 1 Kg of space debris and earn 1 JetSpecie coin. Then satellite developer could spend 1 JetSpecie coin for delivery of 1 kg payload to Sun-Synchronous Orbit, or exchange it for <12,000 USD at cryptocurrency exchange. At the beginning of the project (during ICO) investors could buy 1 JetSpecie coin for 3,000 USD.

Competitors

The key competitors in the space launch services market include SpaceX, Blue Origin, Virgin Galactic, Dream Chaser, Arianespace, Antrix Corporation, Boeing, Lockheed Martin, Orbital ATK, United Launch Alliance. North America is estimated to lead the space launch services market in 2018. These potential competitors could become JetSpecie partners, while launching payloads for JetSpecie tokens.

Market of space debris doesn’t exist and nobody is paying for massive space debris removal. JetSpecie pretends to create this marketplace.

Advantages or differentiators

JetSpecie is first time synergy of blockchain and spaceflight markets.

During pre-sale significant discount shall be proposed for satellite developers and operators (1 JetSpecie=$3,000=1 kg to Sun-Synchronous Orbit against the average existing price at the launch services market now: $15,000 per 1 kg to SSO).

The next advantage is application of crypto/blockchain market as crowdfunding platform for space launch system creation, that constantly daunting financial challenges at traditional investment markets.

Another advantage is first time creation of commercial marketplace for space debris removal based on blockchain technology. Substitution of traditional crypto mining process (which is wasting computer hardware, electricity for virtual coins) by space debris mining process (which is cleaning Earth orbit, boosting space technology development, develops new markets).

Finance

The idea of JetSpecie is to relief investment tension in aerospace area by introducing new way of funds raising – cryptocurrency crowdfunding, which had recommended itself recently as very promising investment instrument for any kind of the project. JetSpecie shall provide space launch services by the launch vehicle developed at the expense of fiat money raised during ICO. This launch system shall provide space launch services for JetSpecie tokens only for the under-served small-satellite market, where secondary-payload launches are often the only option to satellite developers. The satellite operators shall be interested to buy JetSpecie tokens during ICO pre-sale, because the launch service price shall be three times less than the average market price in fiat money. During pre-sale significant discount shall be proposed for satellite developers and operators (1 JetSpecie=$3,000=1 kg to SSO against the average existing price at the launch services market now: $15,000 per 1 kg to SSO).

It is planned to issue total 800,000 of JetSpecie tokens. 20% of JetSpecie tokens shall be allocated for ICO (this corresponds to ~30 launches of JetSpecie launch vehicle to SSO carrying ~5,400 kg of payload each). 40% of JetSpecie tokens could be "mined" through space debris removal: 1 kg of removed space debris shall be exchanged for 1 JetSpecie token.

Further, when the price of JetSpecie in fiat shall increase (due to trades at exchanges), the company shall make emissions from the rest (30%) of JetSpecie tokens to the market to adjust exchange rate of JetSpecie to fiat money. Because JetSpecie shall always provide fixed service of 1 kg of payload delivery to orbit, its price in fiat money shall be always less than value (in fiat money) of launching 1 kg of payload using other launch service providers. 1 JetSpecie = 1 kg of payload to SSO (Sun-synchronous orbit). 1 JetSpecie = 3,000 USD (during ICO). 1 JetSpecie < 12,000 USD (has to be maintained always).

It is planned to collect at least 400M USD during ICO. This amount shall be used to develop space launch system to provide space launch services for satellite developers and operators. In 4 years after ICO, when the launch system has been developed, it is planned to perform in average 6 launches per year for the price ~5400 JetSpecie tokens per launch. If less than $400M USD shall be raised during ICO, than the space launch system is not developed. “Plan B” in such case is to partner with existing launch service provider, e.g. Firefly Aerospace (USA).

Business model

The business concept is: Remove 1 Kg of space debris and earn 1 JetSpecie coin. Then you could spend 1 JetSpecie coin for delivery of 1 kg payload to Sun-Synchronous Orbit, or exchange it for <12,000 USD at cryptocurrency exchange. At the beginning of the project (during ICO) investors could buy 1 JetSpecie coin for 3,000 USD.

Money will be spent on

JetSpecie’s primary funding strategy is to acquire Venture Capital or Angel funds in a single round of financing. We are seeking US$3 million, distributed over 1 year, to cover operational costs for ICO promotion campaign until the company reaches profitability as the result of ICO (Company setup (registration, premises, equipment, recurring costs): $180,000; ICO consulting company: $600,000; Advertisement (web, influencers, publications): $400,000; Legal consulting company (SEC registration, space law): $500,000; Concept design of JetSpecie Space Launch System: $300,000; Company staff (12 people, 12 months, $5K per month): $720,000; Travel (roadshow to satellite developers, keynotes at conferences): $300,000; Total: $3,000,000).

Offer for investor

Pre-money valuation of JetSpecie today is US$78,000

Risks

- Space-market people are still very cautious to blockchain. Cryptocurrency investors do not have experience with such projects, connected with “rocket science”. It is necessary to join these two communities, which shall lead to highly beneficial synergy. Highly professional experts in our team shall do this during promotion of ICO campaign.

- Cryptocurrency market is very new for our society. Most of the countries are still elaborating their attitude and legislation to this challenge. It shall significantly influence onto the decision of company registration. Highly qualified and trusted consulting companies shall be engaged for this project and make wise recommendations how to mitigate this.

- Blockchain market is perfectly working now as fund raising platform. The recent ICO campaign by Telegram brought 1.7 billion US dollars for them. It clearly showed how effective could be ICO. But is should be thoroughly prepared and marketed. Of course, brand-name plays significant role in the success of ICO.

Incubation/Acceleration programs accomplishment

Starting from May, JetSpecie is accelerated by FasterCapital (UAE) to raise funds to perform ICO (http://www.fastercapital.com/accelerated/jetspecie.html).

Won the competition and other awards

CleanSpecie (the parent project of JetSpecie) is the winning startup of *SEEDSTARS (Dnipro, Ukraine, September 14, 2018).

Photos

Photo 1 - JetSpecie
Photo 2 - JetSpecie
Photo 3 - JetSpecie

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Idea
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