Spacex and Tesla CEO Elon Musk, widely believed to be the man taking humanity to Mars and building a permanent settlement there, tweeted his approval of the idea that Marsâ€™ economy will run on cryptocurrency.
Elon Musk Envisions Marsâ€™ Economy Run on Cryptocurrency
Elon Musk believes that Marsâ€™ economy will be run on cryptocurrency. He said early this month that he is â€œhighly confidentâ€� that his company Spacex will land humans on Mars â€œabout six years from now.â€� He further noted that it could even come as early as 2024 â€œif we get lucky.â€� Musk previously said that his aim is to set up a â€œself-sustaining city on Mars as soon as possible.â€�
The subject of cryptocurrency running Marsâ€™ economy briefly came up on Twitter last week. AI researcher Lex Fridman tweeted, â€œMars economy will run on crypto.â€� In response, Twitter handle Elonâ€™s World suggested, â€œMarscoin.â€� Musk himself replied with just a â€œYes.â€�
It is not clear if Musk was referring to the cryptocurrency called â€œmarscoinâ€� that was launched in 2014 or if he was just talking about a future project with the same name. The existing project was launched for the purpose of becoming a Martian currency, according to its project page. Its code was a fork of Litecoin, and it originally traded on Nova Exchange. However, after peaking during the 2017 initial coin offering (ICO) bubble, its price dropped sharply and the coin was delisted from Nova soon afterward. Furthermore, Nova Exchange officially closed for business on Jan. 28.
Musk has also recently been talking about two other substantially more popular cryptocurrencies: bitcoin and dogecoin. Last week, he pondered the idea of his company Tesla putting billions of dollars into BTC, as suggested by the CEO of Nasdaq-listed Microstrategy which now has about 70,470 BTC in its treasury. Musk asked, â€œAre such large transactions even possible?â€� He also tweeted about dogecoin a number of times over the years. Until very recently, his Twitter profile displayed: â€œFormer CEO of Dogecoin.â€�
Spacex said in October that it will not be recognizing any international law on Mars. Its Starlink internet projectâ€™s terms of service state: â€œFor services provided on Mars, or in transit to Mars via Starship or other colonization spacecraft, the parties recognize Mars as a free planet and that no Earth-based government has authority or sovereignty over Martian activities. Accordingly, disputes will be settled through self-governing principles, established in good faith, at the time of Martian settlement.â€�
Which cryptocurrency do you think Marsâ€™ economy will be run on? Let us know in the comments section below.
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