$pace Bucks

For decades, scientists and innovators have constantly played with the idea of space colonization. The time has come where this idea no longer seems like the plot of a sci-fi movie. The wikipedia article “Space Colonization” breaks down what colonization of space entails and what must be figured out in order to do so. Within the vast array of checkpoints that must be met in order to make space colonization possible, there is one aspect that is quite intriguing: space currency. Will there be a new currency? Will it be called space bucks? All of these questions will hopefully be answered soon as the movement towards colonizing space continues to grow rapidly. Either way, whether a new or previously created currency will be used, it is going to be very interesting to see the monetary system that is chosen for usage in space.

The article explains how the already created “QUID” currency is the current frontrunner. It is made of a space-qualified polymer that could potentially serve as the standard space currency. So far, this belief seems to make sense as this currency has been tested to function well in space. On the other hand, the idea of incorporating a form of cryptocurrency is also in the mix of discussions. The benefit of this method would be not worrying about any physical value unlike the QUID. The incorporation of cryptocurrency would be very efficient as there is no need to store it because it is completely digital. There will definitely be some sort of battle between those in favor of a tangible form of money such as the QUID versus those looking for a digital currency found in cryptocurrency. There will need to be one sole and primary currency in order for the monetary system to be strong and handle the new civilizations.

Following along with the debates will be pivotal as it will give insight on which type of currency will be chosen. There will most likely be some battle of those who favor their respective system in trying to get their currency labeled as space money. Elon Musk will for sure be pushing cryptocurrency as the primary source of money in space. Musk’s wealth, power, and influence in technology may be the deciding factor in the decision about space money. He is already heavily involved in space travel and expansion so it would not be surprising if he had a big say in deciding the primary space currency. There are many other factors that must be figured out before choosing the next space currency but it will be very important when that time comes.