The fervour surrounding cryptocurrencies is diverting investment funds away from the space sector, according to Adam Draper, the founder of start-up accelerator Boost VC. Draper said that he was “very concerned” about a lack of clarity around how bitcoin and other digital currencies would be regulated, but added that it could take years for regulations to emerge. Elsewhere at the conference, investment companies questioned the lack of information from space start-ups and pointed to how few exits there had been from such start-ups.
The fervour surrounding cryptocurrencies is diverting investment funds away from the space sector, according to Adam Draper, the founder of start-up accelerator Boost VC. Speaking at the recent Space Tech Summit in Silicon Valley, he warned against space-based companies from trying to integrate blockchain and digital currencies, and said space would become a more fruitful sector in three to five years. Elsewhere at the conference, investment companies questioned the lack of information from space start-ups and pointed to how few exits there had been from such start-ups.