Skip to content
ExO Insight
  • Home
  • About
  • OpenExO
  • Videos
  • Log in
  • Subscribe
  • Latest
  • 3D
  • 3D Printing
  • 6Ds
  • Abundance
  • Academy 3.0
  • Accelerator
  • Accountability
  • Adaptability
  • Agriculture
  • AgTech
  • AI
  • Algorithms
  • Alzheimer's
  • Artificial Intelligence
  • Attributes
  • Augmented Human Performance
  • Augumented Reality
  • Automation
  • Autonomous Vehicles
  • Autonomy
  • Bias
  • Bill Gates
  • Biology
  • Bitcoin
  • Blockchain
  • Business Innovation
  • Business Models
  • Cancer
  • Canou
  • Cardano
  • Case Study
  • ChatGPT
  • China
  • Circular Economy
  • Civilization
  • Climate Change
  • Climate Solutions
  • Co-creation
  • Coaching
  • Cognitive Bias
  • Collaboration
  • Communication
  • Community & Crowd
  • Conflict Resolution
  • Corporate Governance
  • COVID
  • Creativity
  • CRISPR
  • Crypto
  • Cryptocurrency
  • Cultural Bias
  • Culture
  • Curiosity
  • Customer Experience
  • Customer Service
  • Cybersecurity
  • Daniel Kraft
  • DAO
  • Dashboards
  • Data Science
  • Decentraland
  • Decentralized
  • DeFi Decentralized Finance
  • Design Thinking
  • Digital Transformation
  • Digital Twins
  • Digital Wellness
  • Digitization
  • Disruption
  • Diversity
  • Dream Tank
  • Earth
  • EBELI
  • Economics
  • Education
  • Elon Musk
  • Emaar
  • Emotional Intelligence
  • Employment
  • Engagement
  • Entrepreneurs & Intrapreneurs
  • Entrepreneurship
  • Equity
  • ESG (Environmental, Social, Governance)
  • eSports
  • Ethics
  • ExO Bot
  • ExO Builder
  • ExO Canvas
  • ExO Coaches
  • ExO Database
  • ExO Economy
  • ExO Model
  • ExO Sprint
  • ExO World
  • ExOAwards
  • EXOS
  • Exoskeleton
  • Experimentation
  • exponential health
  • Exponential Individuals
  • Exponential Organizations
  • Exponential Responsibility
  • Exponential Technologies
  • Exponential Thinking
  • EXQ Exponential Quotient
  • Fashion
  • Forecasting
  • Fourth Industrial Revolution
  • frank fitzpatrick
  • Funding
  • Futur Ville
  • Future
  • Future of Education
  • Future of Food
  • Future of Health
  • Future of Work
  • Futurism
  • Gamification
  • Gaming
  • Gen Z
  • Gender
  • Gene Editing
  • Genetics
  • Getting Started
  • Global Governance
  • Global Grand Challenges
  • Global Teams
  • Global Warming
  • Governance
  • GPT-3
  • HackX
  • Happiness
  • Health
  • Health Care
  • hearables
  • Holistic
  • Homecare
  • Housing
  • Human Potential
  • IDEAS
  • Identity
  • Immune System
  • Impact
  • iNFT
  • Innovation
  • Institutions
  • Insurance
  • Interfaces
  • Internet of Things
  • Jeff Bezos
  • Jeff Booth
  • Job Opportunity
  • KPIs
  • Leaders
  • Leadership
  • Leveraged Assets
  • Linear Thinking
  • Longevity
  • Machine Learning
  • Manufacturing
  • Maturity Models
  • Media
  • Medicine
  • Mental Health
  • Mentoring
  • Metamask
  • Metaverse
  • Mindset
  • Moonshot
  • Moore's Law
  • Motivation
  • MTP
  • music
  • Neural Network
  • Neural Networks
  • Neuroplasticity
  • Neuroscience
  • NextGen
  • NFT
  • NFTs
  • Nonlinear Thinking
  • Ocean
  • Octalysis
  • OKRs
  • OpenExo
  • Oxford Leadership
  • Participatory Budgeting
  • Patriarchy
  • Personal Development
  • Peter H Diamandis
  • Pitch
  • Podcast
  • Privacy
  • Problem-solving
  • Productivity
  • Psychology
  • Purpose
  • Quantum Computing
  • Ramez Naam
  • Ray Kurzweil
  • Real Estate
  • Reflection
  • Regulation
  • Remote Work
  • Renewable Energy
  • Risk Assessment
  • Robots
  • Salim Ismail
  • SCALE
  • Sci-Fi
  • SDG Sustainable Development Goals
  • Second Life
  • Security
  • Siemens Energy
  • Singularity
  • Sleep
  • Smart Cities
  • SME Small Midsized Enterprises
  • Social
  • Space
  • SPIN
  • Staff on Demand
  • Startups
  • Steve Blank
  • Stewardship
  • Storytelling
  • Strategy
  • Supply Chain
  • Sustainability
  • Time Management
  • Tokenomics
  • Top100
  • Transformation
  • Transformative Art
  • Trust
  • Ukraine-Russia Crisis
  • Unicorns
  • Value Chain
  • Venture Capital
  • Virtual Assistant
  • Virtual Reality
  • Vision
  • Water
  • Web 3
  • Wellness
  • Women & Leadership
  • World Economic Forum (WEF)
  • Writing
  • XPRIZE
  • Yenna Tech
  • Yu-Kai Chou
  • Zebras
Photo by SpaceX / Unsplash

Wharton Space Panel Discusses Need for Co-Creating a Vibrant Space Economy

At the Wharton Space and Aerospace Summit held in Palo Alto in September 2022, industry experts urged the private sector and regulatory bodies to work on laying out a solid foundation for the growth of the Space Economy through norms and standards that enable, not stifle, economic growth.

Nishan Degnarain
Nishan Degnarain
21 Feb 2023
  • Share on Twitter
  • Share on Facebook
  • Share on LinkedIn
  • Share on Pinterest
  • Share via Email
  • Copy link

At the Wharton Space and Aerospace Summit held in Palo Alto in September 2022, industry experts urged the private sector and regulatory bodies to work on laying out a solid foundation for the growth of the Space Economy through norms and standards that enable, not stifle, economic growth.

Rapid growth of private space industry

Artist impression of a future manned mission to the moon. Source: NASA

The commercial sector of the space industry is rapidly growing, and is becoming the primary operator in this domain. This is driven by new capabilities, resulting in launch cost reductions and the proliferation of small satellites. The most valuable commodity that space enables is data, including telecommunications services, imagery and remote sensing.

Another trend in the space industry is internationalization. The Artemis Accords, for example, are a future view of how countries will deal with new outposts on the Moon. These accords address issues such as who has responsibility and authority for a given piece of assets, and what their responsibilities are for maintaining it. The accords already have the support of 23 countries.

The U.S. has been leading the way in creating a more stable environment for the commercial space industry by declaring that it will no longer conduct anti-satellite tests, due to the debris that such tests create. This has led other countries to follow suit.

The need for new norms

International collaboration and coordination aboard the International Space Station. Source: NASA

The increasing number of players in the space industry – military, civil and commercial – is casting a light on the importance of the balancing act of how to operate in this domain in order to establish a robust economical foundation. There is a need for norms and rules for the diverse stakeholders to abide by in order to achieve safe and sustainable operation of commercial activities in space. This requires close coordination between commercial entities and regulatory bodies.

Ian Christensen, the Director of Private Sector Programs for the Secure World Foundation, points out that the key governance principles that inform regulation and operations were developed in a less complex era, therefore, are challenged by the pace of activities and new services by the private sector.

Scott Kordella, a space system engineer, described how new norms of behavior in information sharing by space operators will improve safety for all. Information such as planned orbital changes, system health and status and cyber-related events can be confidently shared with other operators without concern of inappropriate use, so that everyone can operate safely.  We want to encourage more of this good behavior, to ensure safe and sustainable operations in the future.

Source: Secure World Foundation

A sustainable and predictable environment for commercial activities is crucial to the success and growth of the space economy. Failure to do so can result in not only economic consequences but also catastrophic events, not only in space, but also on Earth. This is why there is increasing interest as well as investment in the sector.

There’s a parallel to be drawn from the maritime domain in the way the law of the sea and norms of behavior had evolved. Nishan Degnarain, a former chair of the World Economic Forum's Global Agenda Council on the Ocean, and an economist who specializes in the use of new technology, including space technology, to drive sustainable economic growth, particularly for low and middle-income countries. He notes that technology has been a driving force in the maritime industry, leading to four industrial revolutions, and that the same is happening in the space industry. He also points out that as the technology changes, so do leadership and value systems. He concludes by saying that the space community should take lessons from the maritime industry, both in terms of what to do and what not to do, to create a sustainable and predictable environment for commercial activities in space.

Call for a shared vision and further conversation towards a vibrant space economy

Artemis Accords' 2020 signatories calling for peaceful exploration of deep space, Source: NASA

In summary, the panel discussed the importance of having a sustainable and predictable environment for commercial activities in the space industry to thrive.

  • Ian Christensen highlighted the need for established protocols for communication and interoperability between operators, and the importance of informing regulatory bodies and co-creating rules and norms for the industry to grow.
  • Scott Kordella, a space policy expert, emphasized the importance of investing in companies that exhibit good behavior, such as transparent design practices, maneuverability and deorbiting capabilities, and the ability to share information on planned maneuvers and cyber attacks.
  • Miki Sode, a humanity-centered systems level strategist, pointed out that behavioral economy can be employed in the design of such systems to nudge every stakeholder throughout the supply and value chain in the industry towards good behavior. It is wise to proactively engage in understanding what a predictable and sustainable environment might look like for the entire space community.
  • Nishan Degnarain added the need to engage the finance community and establish new ESG (Environmental, Social, Governance) norms for the Space Industry that are well understood and accepted.
Wharton Space and Aerospace Summit, Palo Alto, November 2022

As the number of operators in the sector increases, the need for interoperability and communication between them is becoming critical.  The panel also acknowledged the need for the investment and commercial communities to not only understand the value of a stable environment, but also to raise awareness and show ownership and leadership through actions. It is through co-creating rules and norms among various stakeholders throughout the ecosystem to adapt to changes in technology and ensure long-term stability in shaping the future of the space economy.


Useful Links

Wharton Aerospace Community
Wharton Aerospace Community

https://swfound.org/

NASA: Artemis Accords
The Artemis Accords take an important first step to foster international cooperation for space exploration to the Moon and Mars.
NASA
Head over to https://openexo.com/book to read the full draft of Exponential Organizations 2.0! This living book will be updated with the latest information and advancements. THIS IS THE ONLY PLACE WHERE YOU CAN READ THE DRAFT AND SEE HOW IT EVOLVED BEFORE GOING TO AMAZON. Stay tuned for more updates and exciting features we'll be adding to the platform! This version is available to all members with a Basic membership or higher. Get ready to dive into the world of exponential organizations!
SpaceESG (Environmental, Social, Governance)Sustainability
Nishan Degnarain

Nishan Degnarain

Economist, specializing in the use of new tech to drive sustainable economic growth, particularly for low- and middle-income countries. Head of ExO Solutions.

ExO Insight Newsletter

Join the newsletter to receive the latest updates in your inbox.

Please check your inbox and click the link to confirm your subscription.
Please enter a valid email address!
An error occurred, please try again later.

You might also like

The Global Responsibility of Exponential Organizations Paid Members Public

The technological advances that have been developed as a result of this Fourth Industrial Revolution present a window of opportunity for states and international organizations to address global problems in a much more effective and coordinated manner.

Pedro LOPEZ SELA
Pedro LOPEZ SELA
18 Jul 2022
Fourth Industrial Revolution

The DIGITAL TWIN Concept — Healthcares Transition Towards Homecare — The Making of an Exponential Health Metaverse Paid Members Public

Next Generation Healthcare systems will need to focus on prevention / early detection and pro-active therapy, and they will employ exponential technologies. This likely will lead to significant changes in the way we experience, think about, and deliver healthcare.

Michael Friebe, PhD
Michael Friebe, PhD
29 Jul 2022
Metaverse

Featured Posts

Siemens Energy Continues Their Exponential Journey with a Third Sprint

29 Mar 2023

Part I: What Will Be The Exciting Career Paths Created By Chat GPT And AI?

28 Mar 2023

Emerging Exponential Reality Of Strategy

23 Mar 2023

ExO Insight Newsletter

Join the newsletter to receive the latest updates in your inbox.

Please check your inbox and click the link to confirm your subscription.
Please enter a valid email address!
An error occurred, please try again later.
  • Twitter
  • Facebook
  • RSS

Contribute towards amplifying the voices of the community.

Authors →

Beatrice Barbazzeni

Beatrice is a Ph.D. student in Neuroscience aimed to achieve her MTP with discipline, perseverance and grit:“empower inner potential leading to the growth of exponential winners".

Pedro LOPEZ SELA

Pedro helps individuals & organisations thrive. He simplifies complexity, identifies inefficiencies, connects dots & imagines ideas that drive meaningful outcomes.

Chander Nagpal

With more than 25 years of experience in driving transformation initiatives, Chander is pronounced with a passion for delivering sustainable 10X impact through inspiring, engaging & enabling people.

ExO Insight

Amplifying the Voices of ExO

Navigation

  • Ways to Support
  • Data & privacy
  • Contact
  • Contribute →

Newsletter

Please check your inbox and click the link to confirm your subscription.
Please enter a valid email address!
An error occurred, please try again later.
© 2023 ExO Insight - Published with Ghost & Krabi