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
Why Can’t We Publish Addresses Of New York Times Reporters?
2014 11 28
New York Times reporters Julie Bosman and Campbell Robertson published the address of Darren Wilson in the New York Times so here are their addresses.
GotNews.com strenuously objects to publishing the addresses of individuals who are being targeted with death threats.
GotNews.com published the address of Ebola patient Nina Pham so that people could avoid going to her Dallas apartment.
But it would ...
Terrorists? Interview with Varg Vikernes and Marie Cachet
2014 11 28
Marie Cachet and Varg Vikernes are what we call commonly ordinary people. However, for motives meanly political, the Ministry of the Interior decided to abuse its power to damage them ; "there is nothing more annoying than a low man placed in high position." (Roman saying) Today, Varg risks the eviction of the French territory without valid ground. Three very ...
The Coudenhove-Kalergi Plan - The Genocide Of The People Of Europe
2014 11 28
Mass immigration is a phenomenon, the causes of which are still cleverly concealed by the system, and the multicultural propaganda is trying to falsely portray it as inevitable. With this article we intend to prove once and for all, that this is not a spontaneous phenomenon. What they want to present as an inevitable outcome of modern life, is actually ...
Starbucks Supports Pro-GMO Company
2014 11 26
Another reason why you should not go to Starbucks.
Starbucks has an image of being a socially responsible, environmentally friendly company (Really?). In 2013, 95 percent of their coffee was ethically sourced, and their goal is to reach 100 percent by 2015.1
Other goals include reducing water consumption by 25 percent in their company-operated stores by 20152 and mobilizing their employees and ...
Group Polarization and the Fad of Ethno-masochism
2014 11 26
From "Group polarization: A critical review and meta-analysis". Journal of Personality and Social Psychology. 6 50 (6): 1141--1151
The psychology of White self hatred. Political correctness IS a mental disorder.
Group polarization: A critical review and meta-analysis.
Isenberg, Daniel J. the paper
Harvard Professor Noel Ignatiev talks about how to end the White race
The History of Political Correctness
The Narrative: The origins of Political ...
|More News » |