Hypervine says it fuses blockchain and satellite data, changing the way mining and construction companies record and share data to significantly increase efficiencies, transparency and accuracy.
It says its blockchain ledger allows for all satellite-sourced information to be guaranteed of “the highest level of accuracy, enabling quarry companies to increase profits and have unparalleled oversight of their operations through the adoption of space assets, such as readings for topography, liquid, mineral and density readings”.
The firm was founded in 2018 by Paul Duddy, an expert in product development for digital transformation at companies such as XYZprinting.
It said mining companies have to constantly adapt to ever-changing policies, making easily accessible, high-quality and up-to-date data vital.
“Through the implementation of Hypervine’s technology, data for mining teams and their subsidiaries is clearly recorded on an unalterable ledger, removing the risk of small changes being magnified down a chain, resulting in potentially catastrophic yet avoidable dangers and miscalculations,” it said.
The firm also said it can help not only cut margins for error and potential risks for teams on the ground, for example, but also allows for wider environmental savings through operational efficiencies and carbon reduction.
Duddy, Hypervine’s chief executive, said working with the ESA is “an incredible honour at such an early stage in our development”.
He added: “I started out having seen the potential to help a host of different industries bring their process into a digital age, but also to help eradicate the all too often catastrophic and sometimes fatal accidents that occur due to misrecorded data or lost paperwork. Now I am working with some of the sharpest minds there are, helping people on the ground in high-risk work environments to not only be safer, but be more sustainable in the process.”
Beatrice Barresi, technical officer at ESA Space Solutions, said working with companies such as Hypervine allows it to achieve goals such as making industries including quarrying safer, cleaner and more accountable. “It has been great working with Hypervine on this project and we look forward to the next phases.”