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A number of companies, including SpaceX and Virgin Galactic, have already been testing and developing vehicles to make commercial space flights. SpaceX in particular has been making great strides recently in finalizing their spacecraft for civilian use.
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The station will have gravity, fully working bars, kitchens, and interiors as if it was just another room on earth, with comparable amenities.
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The Space Station would allow for ships to dock with the station, and unload whatever cargo they may be carrying, without risking a loss of pressure, or risk passengers safety.
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Landing a ship on a rotating platform is no mean feat however. Any cargo ship, or transport ship with passengers, that would land on the station, could potentially send it completely out of balance, so they have to compensate to make sure that it will be secure, no matter what the additional load.
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Modules on the station will have multiple uses, from government research and lodging, to the Hilton, which would be an ideal for the hotel.
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But how do you get over the fact that everyone would be floating around, and it would be very difficult to get civilians used to life in space. The solution is that the station will be able to simulate various degrees of gravity, depending on the necessity.
A "moon bounce" for tourists would have low gravity, allowing the feeling of being on the Moon. While in the hotel rooms and most areas, the gravity would be much closer to earth, so that there would be no need for adjustment. This is all due to the fact that the station continually rotates on its axis, similar to a planet.
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Each module will have an escape ship ready in the case of any incident, so passengers on board are safe in any instance. Some will be sold as private residences, and others can be rented for various scientific purposes by governments and organizations.
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Robots will be critical to the construction and maintenance of the space station, and moreover, we don't have to wait for the technology, because we already have it from our innovations on the International Space Station.
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The station's design, while revolutionary in its concept, is not so. The namesake of the station, Warner von Braun, actually designed the concept for this back in the 1950s.
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The station isn't designed with one company in mind, with the goal that all of the companies involved in developing space technology will get in on the project. The 'relative' affordability (the price was not detailed).
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Similar to the modular gradual construction of the ISS, the Von Braun station will be built in a number of stages, until slowly reaching completion.