PayPal and SETI aim to go galactic with off-planet currency system
2013 07 02
By Iain Thomson | The Register
When PayPal launched 15 years ago it billed itself as the world’s first global currency. Now the company is looking to kick-start a conversation into how to become the payment platform for the solar system with PayPal Galactic.
"The time is right today because of all of the interest and movement and money and private/public options that are now moving into space," Anuj Nayar, PayPal’s director of communications told The Register. "This is a real renaissance in space."
Joining the company in the PayPal Galactic initiative are the SETI Institute, the Space Tourism Society, and the pugilistic* former astronaut Buzz Aldrin. Together the group is looking at ways of providing a valid currency and banking system that can be used inside the Earth’s gravity well and beyond.
Nayar said that with Virgin Galactic preparing for inner space flight later this year and space hotels forecast within the next five, now was the time to start thinking about off-world currencies and PayPal wanted to be in the vanguard of any such efforts.
There are currently no laws governing currency in space and Nayar said that the field was the "Wild West" for financiers. Paypal will be focusing on finding ways to connect people to their accounts in orbit and set down a financial framework for avoiding fraud and tax evasion.
Read the full article at: theregister.co.uk
Space bucks: PayPal begins work on an off-world monetary system
By Alan Boyle | MSN News
PayPal has gathered together a team of scientists to address a question that science-fiction writers have been dealing with for decades: How will we handle money in outer space?
"Everybody’s focusing on the ’how’ of going into space ... but nobody’s thinking about what you’re going to do when you’re up there," Anuj Nayar, senior director of communications and social media at PayPal, told NBC News.
To think more deeply about space bucks, the online-payment company has enlisted the Space Tourism Society, the SETI Institute and even Apollo 11 moonwalker Buzz Aldrin for what it calls the PayPal Galactic initiative.
"Trips to Mars, the moon, even orbit will require we provide astronauts and astro-tourists with as many comforts from home as possible, including how to pay each other. Whether it’s paying a bill, even helping a family member on Earth, we’ll need access to money," Aldrin said, in a statement released in advance of Thursday’s formal kickoff at the SETI Institute’s Silicon Valley headquarters.
How to pay in space
Today’s astronauts rely on earthbound representatives to take care of their financial details while they’re in orbit. Signing over power of attorney is standard procedure for space station astronauts. But financial matters could get more complicated for future tourists who go into space. "The reality is that there’s a host of people on the ground who look after the astronauts who are up there right now," Nayar said. "We don’t have that infrastructure. We don’t have those people and systems to make what we want to happen a reality."
The first space tourists could be launched as early as next year, aboard rocket planes that are being developed by Virgin Galactic and XCOR Aerospace. Those suborbital jaunts are expected to last only a few hours — but within the next few years, it’s conceivable that private-sector passengers will be going into orbit for extended stays aboard commercial space stations built by Nevada-based Bigelow Aerospace or Russia’s Orbital Technologies and RSC Energia.
John Spencer, founder and president of the Space Tourism Society, said it’s not too early to start thinking about commerce and payment systems designed for space travelers. "When I got the call from our PayPal friends, I just remember smiling and thinking it’s a good time for this group to get involved," he told NBC News.
The SETI Institute is also lending its expertise, and in return, PayPal is lending support to the institute’s research by setting up a crowdfunding campaign powered by FundRazr. "If we in fact are successful at finding ways to work and play in space, we’re going to want to be there too, you and me," the SETI Institute’s Jill Tarter said in a video about PayPal’s initiative. "And inevitably it’s going to need some kind of monetary currency."
Cash-free in zero-G?
The PayPal Galactic initiative will look at the sorts of issues already encountered on Earth — such as fraud protection, hidden banking charges, identity theft and unanticipated currency swings — plus other problems peculiar to the space environment. "One thing is clear," PayPal’s president, David Marcus, said in Thursday’s statement, "we won’t be using cash in space."
Read the full article at: msn.com
Canada Scraps Penny, Goes After Nickel: The Path to Cashless Society?
The Cashless Society is Almost Here – And With Some Very Sinister Implications
Sweden aims to be cashless society
Publishers accuse PayPal of censorship
Latest News from our Front Page
Climate March in New York City Reveals Communists Demanding ’Revolution, Nothing Less’ - Trash the City With Garbage
2014 09 22
Tens-of-thousands of demonstrators took to the streets of New York City Sunday to demand political leaders take action on climate change.
While the protest remained peaceful, much of the “People’s Climate March” appeared to be made up of fringe elements of the political left.
Dozens of signs denouncing capitalism were spotted at the demonstration, often held by self-proclaimed socialists.
“Capitalism is destroying the ...
Google 2.0 Will Build Cities And Airports
2014 09 22
The world’s got problems and the Google CEO is searching for solutions.
As if self-driving cars, balloon-carried internet, or the eradication of death weren’t ambitious enough projects, Google CEO Larry Page has apparently been working behind the scenes to set up even bolder tasks for his company. The Information reports that Page started up a Google 2.0 project inside the company ...
Why is the US - Mexico Border left open?
2014 09 22
Zach Taylor Interview from the film; "Back to the Border" JFA
Retired Border Patrolman of 27 years gives exclusive interview to Chris Burgard for the film, "Back to the Border." Some scary stuff about human trafficking, guns, drugs and how governments are involved. This guy should know.
A look at Mexico’s Immigration Laws - Who Knew?
The Georgia Guidestones Have Officially Been Updated with the Year 2014
2014 09 22
The elite’s cryptic monument to depopulation and world government just became more mysterious (and creepier) – somebody has officially updated it with an engraved cube marking the year 2014 inserted into the English/Spanish slab of the ’new 10 commandments’ for the ’Age of Reason’ desired by its creators.
Read the rest: TRUTHstreammedia
VOTER FRAUD: Was the Scottish Independence Referendum Rigged to Fail?
2014 09 20
Was voter fraud committed during the Scottish Independence referendum?
It has been confirmed that the names of 10 people were already crossed off a voter list prior them voting inside a polling station.
According to reports, the Glasgow City Council confirmed that there were ten cases of suspected electoral fraud occurring at polling stations following the Scottish referendum vote on the 18th. ...
|More News » |