Edited by Munpriya Samra
Bitcoin companies are taking space exploration to new heights. With the level of support that these companies have pledged, Bitcoin may become new Gallactic currency.
Space exploration is the age old struggle to satisfy our insatiable curiosity to know what lies beyond our planet. For many years, scientists have searched the sky for this reason. The first major breakthrough was in 1969 when Neil Armstrong stepped on the moon’s surface. It seems curiosity grows with every achievement. Fifty years later, the struggle is harder than before. This time space exploration is aiming past the moon, all the way to Mars with an eye towards survival. Basing on how much Bitcoin companies and leaders are backing up space exploration, Bitcoin as a decentralized currency may be used by Martians in years to come to stay connected to our home planet’s reconciliation processes and programmed for smart contracts to power critical communication and economic processes. Space X was the first to join the race on Jan 27th, 2017 followed by Virgin Orbit as a subsidiary of Virgin Galactic, both promising absolute assistance towards space exploration. Leaders who own these businesses like Richard Branson support the spread of Bitcoin’s decentralized technology. Many wonder if the ticket to and from Mars will be paid in bitcoins or another digital currency.
Is space exploration worth any support?
Like the Space Revolution, space exploration is an escapade to eradicate fear for our survival as well as an opportunity to spread the use of efficient, environmentally friendly technologies throughout our galaxy while inspiring communities to join in on the innovation. Investors are beginning to understand the possibilities and two billionaires, Elon Musk and Jeff Bezos, are reducing the cost of executing space-based business plans currently. As the expenditure on explorations in space decline, the funding from investors will rise and more good ideas will be implemented globally to be spread to the masses. Imagine riding to space, helping do research, and living there for the cost of your first starter home at $200,000. This is one possibility among many.
How are Bitcoin companies supporting space exploration?
These Bitcoin companies help by creating software to power the technology that will be used in space in manufacturing and for garnering donations from the larger public.
How will Transactions be Done on Mars?
Payments will be performed normally just like any other blockchain transaction. The only challenge is that there may be a slight delay of between 10 to 15 minutes in transactions from Mars to Earth. This is due to the effect of distance to the radio signals. All in all, this might become a new exchange methodology just like the one that exists between countries but this time between planets like a Gallactic payments system, if you will.
Watch the video of Elon Musk’s original vision for Paypal and his views on digital currencies here.