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Saturday, September 18, 2021

Elon Musk Announce that the first Mars inhabitants will use cryptocurrencies

It is no secret that the South African tycoon and inventor, Elon Musk, has as its main goal that humanity manages to colonize Mars as soon as possible and, it seems, has everything well planned, declaring that establishments on the red planet will be governed by a direct democracy and in some cases laws or ruling institutions may not be necessary.

One of the requirements to achieve this vision would require a decentralized exchange rate and not regulated by a “government”, so creating an exclusive cryptocurrency for Mars seems to be the best option.

Why does Elon Musk think cryptocurrencies would be a great choice?

According to Elon Musk, the idea that the first inhabitants of Mars will carry out transactions with a physical currency does not make much sense, since any material transported to the red planet needs to be of vital importance. It is quite difficult to imagine a reason why these transactions must take place within the first generations of the conquest of Mars.

Transactions could be verified from Earth via radio waves in a time of about 20 minutes, taking into account that the files are based on pure text or formats similar to those used by current banks.

This transfer of information through radio waves could be the only form of interplanetary communication, so much so that humanity has been searching for radio waves from other solar systems for several decades without any response, until a week ago when a transmission from the star, Proxima Centauri, was detected, one of the closest to our solar system.

For all this, all that’s left is to wait. Assuming the first missions to Mars are successful, the population will need to reach a critical point where the need for a currency is necessary for the local economy, especially considering that for a long period of time all materials will be imported from Earth.

As this happens, we will continue to expect Musk to make his promise to bring humans to other planets good, but he is no longer thrilled with the possibilities that the conquest of space presents, which is clear to us, is that Elon is at least 20 steps ahead of everyone else. Not for nothing is he the second richest man in the world. 

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