March: Elon Musk wants an economy based on cryptography

March: Elon Musk wants an economy based on cryptography

According to SpaceX CEO Elon Musk, the future Martian economy could be based on cryptomoney, such as Bitcoin. At least that’s what one of his statements on his personal Twitter account suggests.

The billionaire, one of the co-founders of the online payment giant PayPal, intends to send the first humans to Mars with his rockets.

According to Elon Musk, SpaceX is confident of landing astronauts on Mars in 2026. However, if everything goes according to plan during the tests of the prototypes of the Starship rocket, this one could take off towards the red planet as early as 2024. SpaceX will face a number of challenges to enable safe manned flight to and from Mars.

Cryptonics on Mars?

Cryptonics on Mars?

Lex Fridman, a researcher in artificial intelligence, asked whether the economy of Mars would work by encryption, to which a user responded with a possible name for the currency called Marscoin. Elon Musk answered with a simple « Yes ». A few days earlier, Elon Musk had tweeted the word « Doge », which had caused the price of Dogcoin cryptography to soar.

Even if Elon Musk manages to send humans to Mars, it is doubtful that he has the authority to decide how the local economy will function. However, cryptonics seems to be a good candidate for building a new economy on a new planet. If the governments decide to approve this decision, it is unclear whether they will base it on an existing cryptomony or create a new one, dedicated to the Red Planet.

Elon Musk’s ambition is to build an autonomous city on Mars as soon as possible. Building a society on another planet would require the establishment of a new economy, but also a system of laws to govern the colony.

For the moment, SpaceX recently flew its prototype Starship, SN8, 15 km above sea level. The company came back on the flight with a detailed video. All eyes are now turned to SN9, which should soon be on its way to the launch site. SpaceX had encountered some problems after SN8’s flight, as SN9 had lost balance in its hangar.

March: Elon Musk wants an economy based on cryptography
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