One private venture is aiming to launch a cluster of tiny satellites that would broadcast the latest bitcoin transactions from orbit.

 

"To me, it's really about resilience and lowering costs," Jeff Garzik, the man behind the start-up Dunvegan Space Systems, told Space.com. This week, Garzik announced that his company contracted the private space venture Deep Space Industries, Inc. to develop nanosatellites for the project dubbed BitSat. 

 

Bitcoins are a decentralized, digital-only currency that is managed through a peer-to-peer network of computers on the ground.