Space has been called the final frontier. That is why the online cash nexus, Paypal and SETI got together to introduce space currency. This will be a brand new concept in interplanetary economics.
Commercial transactions have spread across the planet. The globally interconnected economy has its booms and busts. Yet the next logical step would be outer space. Will we one day be paying for a one-way ticket to Mars in Martian Dollars? If Paypal and SETI are to be believed, it is a possibility. According to The Register, the debut of Paypal Galactic is an example of this bold move into a niche no one else has gone to before. With the beginning of space tourism, obviously the question of the mode of payment comes up. It is for this express purpose that this platform has been set up. However, one thing is for sure. Space cash won’t be like ordinary cash. It will resemble the online currencies (Bit Coin comes to mind). The disappearance of solidity in case of money is a very real phenomenon. It started from solid versions such as hard metallic coins. And then paper money came along. Finally we have the credit cards and online currencies of today. Money has gone smart indeed.
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One gentleman who is a geriatric astronaut and has a lot to say on this matter is Buzz Aldrin. The second man to land on the moon, he is very vocal regarding payment policies in outer space. Since space tourism began, the methods and modes of payment in orbit, on the moon or even on Mars (one day) will have to be decided. Astro-tourism wants its valued tourists to feel good in outer space. And so many amenities and facilities will have to be provided to these space freaks. That will of course require dollars and cents. The transactions may include paying a bill or even helping someone back on planet earth. Buzz Aldrin wants to see a trip to Mars become a solid reality within his lifetime. That will be the day Paypal Galactic becomes the common and accepted mode of cash exchange. It seems the scientists who are looking for aliens and those who deal in the cash nexus have gotten together to create the first cosmic currency. The enterprise lays the pecuniary foundation for an interplanetary economic hub in our solar system. Earth was just a beginning. Tomorrow belongs to the space that lies beyond our humble planet.
Image Credit: Space