🧑‍⚖️Underwrite

In the case of a default, the underwriter pays off the outstanding loan for the hardware collateral token which gives rights for possession via the bailment receipt number. Possession in the space sector broadly happens in two ways. If it's on Earth, possession is physical, operational and economic within the nation’s legal regime such as Uniform Commercial Code (UCC) in the US. As for space segment hardware, possession is normally, operational control, economic and legal. This last aspect can get complicated due to the planetary nature of the industry which we hope a blockchain-enabled lending registry hopes to solve.