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PayPal to set up galactic currency system

Posted on Thursday, 27 June, 2013 | Comment icon 17 comments


Image credit: NASA

 
PayPal are looking in to setting up a currency platform to cover a future interstellar economy.

Anuj Nayar, PayPal's director of communications, has said that with the growing interest in space tourism and with plans for space hotels and other commercial ventures on the horizon within the next few years now is a good time to look in to establishing a form of currency for use in space. PayPal is being joined by the SETI Institute, the Space Tourism Society and former astronaut Buzz Aldrin in exploring this concept.

"The time is right today because of all of the interest and movement and money and private/public options that are now moving into space," said Nayar. "This is a real renaissance in space."

"When PayPal launched 15 years ago it billed itself as the world's first global currency."

  View: Full article

 Source: The Register


  Discuss: View comments (17)

   


 
Recent comments on this story
Comment icon #8 Posted by danielost on 27 June, 2013, 23:11
sci-fi has already been using an universal curence. They call it credits and usually it kept on computers istead of cash. We are being forced that way now. One stp closer to not being able to buy or sale without the mark.
Comment icon #9 Posted by stevemagegod on 28 June, 2013, 2:05
There are currently no laws governing currency in space and Nayar said that the field was the "Wild West" for financiers. That can change real quick. You p*** off the wrong person and boom Space is no longer the Wild West for financiers.
Comment icon #10 Posted by Shush_rules on 28 June, 2013, 9:56
sci-fi has already been using an universal curence. They call it credits and usually it kept on computers istead of cash. We are being forced that way now. One stp closer to not being able to buy or sale without the mark. Soooo, basically not at all different to what we have now? Seeing as all money IS "kept on computers", such as your financial records, and you have to use a computer in order to access any sort of cash. I don't think this is at all bringing anyone at all one step closer to the mark of the beast, assuming that is what you're referring to. Also... seems like a weird conclusion ... [More]
Comment icon #11 Posted by Mindscanner on 28 June, 2013, 12:24
I am so sad in the fact that human create all the major disruption on this earth, I believe they will continue doing so in other neighboring planet, just another greedy plot to create destruction in human history after history all over again. If any of you would make it there, good luck, hopefully you won't get kicked out by the indigenous aliens!
Comment icon #12 Posted by smokeycat on 28 June, 2013, 14:25
Bitcoin.
Comment icon #13 Posted by danielost on 28 June, 2013, 15:07
I smell universal financial collapse. We are currently in an universal financial collapse.
Comment icon #14 Posted by danielost on 28 June, 2013, 15:09
Soooo, basically not at all different to what we have now? Seeing as all money IS "kept on computers", such as your financial records, and you have to use a computer in order to access any sort of cash. I don't think this is at all bringing anyone at all one step closer to the mark of the beast, assuming that is what you're referring to. Also... seems like a weird conclusion to come to from the news that PayPal is doing stupid ****. You won't be able to buy or sell without the comuter chip in your hand. Because, there won't be any cash. Except on the black market.
Comment icon #15 Posted by Zerocoder on 29 June, 2013, 11:44
Biatch Pl3as3, we can't keep the economy steady on Earth, and their going for space? -.- Jumping the gun a bit, aren't they? Not seeing any orbiting Holiday Inns or Starbucks yet. jumping the gun? their standing on a ticking bomb With any luck, we'll move beyond a currency based system and simply come togather collectively to achieve great things out in the universe...I'm hoping there won't be a need for paypal a nice dream, Politicians & Greedy basterds won't allow that as long as they live
Comment icon #16 Posted by Antilles on 29 June, 2013, 13:10
I was shopping last night and the site I was buying from had me defaulting to paypal unless I disagreed. That's pretty sneaky and I'm guessing quite a few people get caught that way.
Comment icon #17 Posted by Erowin on 1 July, 2013, 4:43
We'll need an interstellar payment system when we get with aliens. Maybe something like 'credits' from Mass Effect, a universal electronic currency spendable on any planet.


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