Nicholas Trudgen, CCO and co-founder of SpaceChain MENA, will be in charge of charting the company's growth across the region.
SpaceChain has opened a new office in Abu Dhabi as it looks to tap into markets in the Middle East.
Incorporated and operated under the legal entity of SpaceChain MENA Ltd, the new office is located at Hub71, Abu Dhabi’s global tech ecosystem, where the company will spearhead the planning and development of integrated space-blockchain projects and initiatives in the Middle East and North Africa (MENA) region.
The establishment of SpaceChain’s UAE office is a milestone forward in advancing SpaceChain’s decentralised satellite infrastructure (DSI) for business and fintech applications, and extending its space-as-a-service capabilities to enterprises and communities across the MENA region to create a next-generation infrastructure for the blockchain industry in outer space.
To date, SpaceChain has successfully launched six blockchain-enabled satellite payloads into space to realise its DSI vision.
Zee Zheng, Co-founder and CEO of SpaceChain, said: “Being part of the Hub71 community places SpaceChain at the gateway to the burgeoning space industry in the MENA region. Our presence alongside other high-growth tech companies will allow us to share expertise and collaborate with leading influential players in Abu Dhabi’s growing innovation ecosystem that are interested in capitalizing on the New Space Economy. The space industry in the Middle East is rapidly growing with strong support from the UAE government and its planned economic diversification from oil. We are very excited to be contributing to the industry growth by helping regional enterprises transition into space-based businesses through the integration of space and decentralized blockchain technology.”
SpaceChain MENA will collaborate closely with start-ups and organisations in the space, blockchain and fintech arenas within the region to uncover business and growth opportunities across multiple service offerings, including e-wallets, space commodities exchange, micro-geoservices that connect Earth observation service providers with user communities, and decentralized finance (DeFi) applications.
The UAE government has lent support in developing a space industry across the region. The National Space Strategy 2030 aims to enhance the space sector’s contribution to the national economy and promote the UAE’s regional and international presence in the space industry. It also sets the general framework for the space sector and activities in the UAE for the years leading up to 2030, including government activities related to space, commercial activities; scientific activities carried out by the public and private sectors, and academic institutions and research and development centres.
Nick Trudgen, chief commercial officer and co-founder of SpaceChain MENA, will be responsible for charting the company’s overall growth across the region. He joined SpaceChain in 2017 and currently heads both SpaceChain’s United Kingdom (UK) and UAE offices.
Nick Trudgen added: “The UAE has laid a strong foundation in establishing its space industry as a sustainable economic enabler to benefit future generations, and is executing on a comprehensive action plan to develop specialized capabilities in this field. SpaceChain is proud to be contributing to the growth of the UAE’s space sector by fueling growth in commercial activities, and working in collaboration with organizations and start-ups on harnessing space-as-a-service as a platform for innovation.”
According to Euroconsult’s market intelligence report on government space programmes, space spending in the MENA region has almost doubled during the last decade, from $755m in 2010 to nearly $1.3bn in 2020.