Spacecoin uses blockchain to build a satellite-based internet network to connect the global economy at a lower cost than Starlink.
Tae Oh is founder and CEO of Spacecoin, a startup aimed at providing decentralized satellite-based internet connectivity worldwide, giving the unconnected access to global commerce. The blockchain satellite network’s decentralization completely bypasses terrestrial internet and allows anyone to join and be compensated via crypto for providing internet access.
“Uber for satellites” is how Oh describes the role he hopes to play with his startup. Spacecoin launched its first satellite in December of 2024 and is planning three more satellites to be launched in Q4 of 2025.
Elon Musk’s Starlink has paved the way for providing hi-speed internet to the nearly 3 billion people who lack reliable connectivity though it can handle only a few users per any given area. Spacecoin, on the other hand, is optimized to keep cost low. His permissionless, trustless blockchain-based option also provides security that isn’t under the control any business or government, much as Bitcoin offers decentralized finance.
Spacecoin is the third piece of a network that also includes two other pieces also founded and led by Oh: the de-fi platform Gluwa and its spawn Creditcoin, a cryptocurrency blockchain network. The Spacecoin system uses Creditcoin’s blockchain to manage financial transactions.
Gluwa, founded in 2012, partnered with the Central Bank of Nigeria in 2024 to help boost adoption of its digital currency eNaira. A 2022 report noted that over half of Nigerian crypto investors had most of their assets in crypto. Creditcoin has processed over $80 million in transactions with over 300,000 users. Before founding Gluwa Oh was an engineer for SOLiD and an organizer for Korea’s Google Cloud platform. The native Korean speaker has a 2010 bachelor of science in computational biology from Carnegie Mellon University.
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