Thursday, 27 June 2013

PayPal to prepare ground for intergalactic currency

The sun is about to come up over the South Pacific Ocean in this colorful scene photographed by one of the Expedition 35 crew members aboard the Earth-orbiting International Space Station between 4 and 5 a.m. local time on May 5, 2013 and released on May 9, 2013.NASA/Handout via Reuters


Ebay’s payments business Paypal has started figuring out how commerce will work beyond Earth’s realm once space travel and tourism keep humans away from their planet for years. It eyes an intergalactic currency.

The company elaborated on its PayPal Galactic Initiative with the assistance of the SETI Institute and the Space Tourism Society in the US. It said it wanted to figure out what future space travelers would use as cash.

Product Vice President Hill Ferguson told AFP news agency the idea of creating an intergalactic currency might seem premature to many, but he insisted there was no time to waste.

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