Quantcast
Connect with us

PayPal launches quest for intergalactic currency

Published

on

Earthbound financial transactions service PayPal launched a quest for an intergalactic currency, saying it is time to figure out what space travelers will use as cash.

“The time has now come for us to start planning for the future; a future where we aren’t just talking about global payments,” said PayPal president David Marcus. “We are expanding our vision off earth into space.”

ADVERTISEMENT

PayPal Galactic Initiative will be formally unveiled Thursday at the SETI Institute campus in the Silicon Valley city of Mountain View, with attendees to include famed alien seeker Jill Tarter and former US astronaut Buzz Aldrin.

The initiative, headed by PayPal, aims to bring together parties with roles to play in the commercialization of space to explore a framework for a financial system that spans galaxies.

“From ‘Star Trek’ to ‘Battlestar Galactica’, they all have currency and they all gloss over the fact that it works,” PayPal senior director of communications Anuj Nayar said, referring to hit science fiction films and television shows.

“We are at that point now where it seems a natural time for scientists, governments, and everybody else to start taking this seriously.”

ADVERTISEMENT

Astronauts living in the International Space Station still have bills to pay, even if they are just buying digital books or music for whiling away time in orbit, Marcus reasoned.

“I think that if we are in fact successful at finding ways to work and play in space, we’re going to want to be there too; you and me,” said Tarter, whose real-life work inspired Jodie Foster’s character in the 1997 film “Contact”.

“Inevitably, it’s going to need some kind of monetary currency.”

ADVERTISEMENT

Operations such as Virgin Galactic and Space X have put the prospect of space tourism on the near horizon, and when tourists leave Earth they will need traveling money, according to PayPal.

A Space Hotel is proposed to be circling the planet in about three years, raising the prospect of porters to tip and room service to pay for.

“As we start planning to inhabit other planets, the practical realities of life still need to be addressed,” Marcus said.

ADVERTISEMENT

“We will still need a way to pay for life’s necessities, back here and out there, though exactly how we’ll do that isn’t currently clear.”

PayPal was founded 15 years ago this month with a vision of becoming a global currency, so it is fitting to celebrate the birthday by looking to the stars, worldwide product vice president Hill Ferguson told AFP.

“At first you laugh it off and think it crazy,” Ferguson said. “But space exploration and the thought of commercializing space are much closer than a lot of people would think.”

ADVERTISEMENT

US Internet retail giant eBay late last year cut jobs and contractors as part of a reorganization of its PayPal financial division to make it “more agile” with a simplified business structure.

PayPal powers online payments and money transfers, and has been moving into digital wallets.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Tapper smacks Mnuchin with Trump kids’ international business deals after attack on Biden son

Published

on

In a fairly contentious interview with Steve Mnuchin, CNN host Jake Tapper pointed out how Donald Trump's children -- Don Jr., Ivanka and Eric -- have been using their father's name to swing international deals after the Treasury secretary accused former Vice President Joe Biden's son of doing the same.

Mnuchin first dismissed reporting by the Washington Post and the conservative Wall Street Journal that Donald Trump was withholding Ukraine funding in an effort to get dirt on Biden and his son -- saying neither newspaper could be trusted -- he then complained to the CNN host about having to spend seven and a half minutes talking about Trump's Ukraine scandal.

Continue Reading

Facebook

‘You never cover this’: Giuliani has fresh meltdown on Fox News over Biden’s ‘drug addict’ son

Published

on

President Donald Trump's attorney, Rudy Giuliani, went on a conspiratorial rant on Sunday involving Joe Biden's son and billionaire George Soros.

During an appearance on FOX News Sunday, Biden tried to smear Hunter Biden as a corrupt "drug addict" was doing illegal business in the Ukraine.

According to the president's attorney, Biden tried to cover up his son's business dealings in a conspiracy that involves Soros.

Guest host John Roberts asked Giuliani if it was "appropriate" for him to try have to the Bidens investigated.

"This began with someone saying, this information can clear your client," Giuliani opined. "The corruption in Ukraine about the corruption in Ukraine between the Ukraine and the Democratic Party, the ambassador and the FBI agent who investigated."

Continue Reading
 

2020 Election

Will Trump peacefully vacate the Oval Office if he loses the presidential election in 2020? A lesson from 1800

Published

on

As primary season heats up in the United States, the Democrats are anxiously debating the best path to unseat Donald Trump in 2020. But the question of how to beat Trump is perhaps less urgent than the issue of whether he will accept defeat.

Trump has already questioned his loss of the 2016 popular vote with baseless accusations of voter fraud. He has also repeatedly toyed with the idea of extending his presidency beyond the eight-year limit enshrined in the U.S. Constitution, even trumpeting Jerry Falwell Jr.’s assertion that his first term be extended by two years to compensate for the Russia investigation. Perhaps most ominously, Trump’s former lawyer Michael Cohen warned while testifying before the House Oversight Committee in February 2019:

Continue Reading
 
 
Help Raw Story Investigate and Uncover Injustice. Join Raw Story Investigates for $1 and go ad-free.
close-image