Our concept of money has evolved so many times over the past thousands of years. And each time, we manage to build something more sophisticated than the last monetary system.
The fiat monetary system we have right now has been in effect for quite a long time. But, we are seeing something that might replace it. And if you're reading this, there's a good chance you know what I'm talking about - cryptocurrencies, obviously!
Cryptos are no doubt more sophisticated than fiat currencies. There is code backing them and it all happens in a trustless manner where there is no central authority manipulating the system.
Now, let's take a trip to the future and imagine what money would be like in 2100. By then, we will probably have established a permanent colony on Mars. And, where there are humans, there will be a need for money. So, in the future, will we use cryptos on Mars?
Crypto To Mars?
In the crypto sphere, we love saying "to the moon". And while this is mainly to signal a huge rise in prices, in reality, we might go even beyond the moon. If cryptocurrencies really take off back here on Earth, we might apply this concept from day one on Mars.
I think it will be essential that we do so. The reason is simple. On Earth, there are different countries, each with their own sovereign currencies. On Mars, that won't be the case (as far as I can tell). It will be a single undivided planet.
So, naturally, they will need something that works throughout Mars and can possibly even be exchanged with cryptos that will be in use on Earth at the time.
Having a cosmic internet (thanks to the Starlink project) could help future Martians exchange "Mars coin" for Bitcoin or any other currencies! How cool would that be? Monetary transactions taking place over vast distances in space... now that's the future!
Waahhhh ! Now who could have thought of writing on this :P :P
Me! Me! LOL :D
How do you get your ideas? Whats your inspiration?
Nothing special really. I just tend to think deeply about my interests and ideas seem to pop out.
You have a great mind !!! Baakio ki to past future ki tensions me hee lagi rhti hain. Keep it up.
Thank you. I appreciate that :)
Mars would be communal at first, so no currencies necessary. Once you get different communities spread out that produce different (excess) goods and services, then you would need trade. I'd wager that trade would be barter at first, and eventually move to a currency if its feasible.
It might start out as communal but I think once they start producing goods and services, in my opinion, they will directly shift to something like a cryptocurrency. By then, it will have been a proven model and very easy to implement (like plug and play).
Great one!
Thanks!