The future of space trading will be the Cryptocurrency
For a long time the human being has been inclined towards the conquest of space. At the moment, officially, there is not enough technology to reach manned ships far beyond the Moon, but this is already coming. And when scientists can build that path, it will be necessary to be prepared in other areas, such as economics.
Dr. Kartik Hegadekatti of the Ministry of Railways of India recently published an analysis where, basically, it assures that the Cryptocurrency and the blockchain are the economic solution space. Or they will be in the not so distant future as you might believe.
According to Hegadekatti, in his report, transporting physical money from Earth into space, whether to the Moon, Mars or other planets, would cost much more than the currency in question would cost. Thus, for example, transporting $ 100 into space at a cost of $ 1000 per kilogram would in principle cost an additional $ 1. And the bigger the distance, the higher the price: transporting it to Mars would make $ 150, so it would be as costly as it was impractical.
It would also work with 'plastic money', that is, debit or credit cards, since transporting the necessary equipment to use them is also very problematic. Given these drawbacks, the solution is undoubtedly the blockchain and the digital currency, which everyone could carry with them without problems to make transfers in real time.
It will be logistically and economically inappropriate to carry paper money or coins during space travel. The cost associated with such an undertaking is prohibitive and also illogical. We evaluate as to how value based transactions can be conducted in outer space. In this paper, the extra-terrestrial applications of BlockChains and cryptocurrencies are analysed.
Kartik Hegadekatti
Government of India, Ministry of Railways
December 8, 2016
To achieve this, it is explained that a single blockchain could work for the Earth and for the Moon, because of the distance, new chains of blocks and specific assets for each planet would have to be developed carrying powerful microprocessors that would allow a 'intelligent mining'. In addition, the blockchain would also work to create contracts, make "votes", collect taxes and even build a new banking system.
Although it sounds like science fiction, Hegadekatti is not the first to come up with it. In fact, in October we learned that the California Space Center (CSC) has taken even one step further by creating a blockchain transfer system designed to function in space and cooperate in a future spatial colonization. Genesis Mining, meanwhile, even managed to make the first bitcoins transfer into space.
In order to achieve this objective, they relied on the company SentIntoSpace, which is dedicated to launch all kinds of objects into space in a controlled manner, using mainly helium balloons that can raise enough kilometers to cross all layers of the atmosphere until The Earth becomes only a bright blue sphere floating in the dark, with the sun in the distance.
And this is what you see in the video posted by Genesis Mining on September 12 through your YouTube account. In principle we are only shown a panoramic view of the heights, but immediately we see how the equipment accommodates the helium balloon next to the camera and a representative bitcoin coin, as it would be to be physical. Then the ascent begins, traversing miles of sky between the words of three outstanding interviews about bitcoin: Eric Schmidt, former CEO Google, Bill Gates, CEO Microsoft, and Sir Richard Branson, Founder of Virgin Galactic.
And perhaps such colonization is not so far away. Currently there are several companies and projects that intend to launch manned missions to Mars before 2030, such as Space Shuttle North America and the Mars One initiative, which has already recruited hundreds of volunteers for a return trip to the Red Planet. However, enough technology to transport and maintain humans in environments as inhospitable as that of Mars is still in development. We will see if they succeed in the next few years.
Resteem
Thank you for this article, carlos-cabeza. I love science fiction as well and all visions come closer and closer on a daily basis. I will follow you.
Thank you for showing, how to bring the „follow“ into an article. Is it a common graphics? May I use it as well? Is there a special place for these useful gadgets?
Thanks, I'm glad you liked it
This post has been ranked within the top 80 most undervalued posts in the second half of Dec 14. We estimate that this post is undervalued by $6.04 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Dec 14 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.