Yes, you heard it right? The record held by Burj Khalifa might be in danger. A Canadian company wants to build a tower which will enable astronauts to take an elevator part way into orbit.

It would be 20 times higher than Burj Khalifa, which currently is the tallest building in the world which has a height of 830 meters (2,723 feet) into the sky.

A month ago, a US patent was given to Thoth Technology for what they call the “space elevator” has made a promise to ensure that the cost of space travel will reduce significantly.

The Pembroke, Ontario-based firm has a vision of building a 20-km tower which has a platform at the top which can be used to launch payloads, tourism, observation, scientific, research and communications and would be made out of pressurized, stacked cells.

On the exterior surface of the elevator core structure, elevator cars may ascend or descend or in a shaft on the interior of the elevator core structure.

Atmospheric drag would be virtually eliminated with the help of hauling payloads onto an elevator into near space and then launching them into space from the stratosphere which inturn would require less fuel.

The company has made an estimate that cost of space flight would reduce by one third.