We describe a concept for realizing a high performance space-time reference using a stable atomic clock in a precisely defined orbit and synchronizing the orbiting clock to high-accuracy atomic clocks on the ground. The synchronization would be accomplished using a two-way lasercom link between ground and space. The basic approach is to take advantage of the highest-performance cold-atom atomic clocks at national standards laboratories on the ground and to transfer that performance to an orbiting clock that has good stability and that serves as a ‘frequency-flywheel’ over time-scales of a few hours. The two-way lasercom link would also provide precise range information and thus precise orbit determination. With a well-defined orbit and a synchronized clock, the satellite could serve as a high-accuracy space-time reference, providing precise time worldwide, a valuable reference frame for geodesy, and independent high-accuracy measurements of GNSS clocks. Under reasonable assumptions, a practical system would be able to deliver picosecond timing worldwide and millimeter orbit determination, and could serve as an enabling subsystem for other proposed space-gravity missions, which are briefly reviewed.