India study explores possibility of cryptocurrency for conducting space transactions

Briefing

March 7, 2017

Briefing	Space-Based Cryptocurrency – Dr. Kartik Hegadekatti of India's Ministry of Railways proposes use of cryptocurrency to enable commerce and trade in space colonies Impractical Physical Money – Claims physical money is impractical in space as it requires more resources to manage, including transportation costs, personnel training, supply of paper and ink, computers for tracking accounts, and waste management systems Cryptocurrency Mining – Proposes that machines and robots deployed in space colonies mine their own cryptocurrencies Network of Blockchains – Envisions space colonies' blockchains linked together to facilitate inter-space colony transactions Other Potential Uses – Can be used for contracting, voting, taxation, banking, and implementing rules and regulations without need for human intervention
Accelerator	Space Commercialization, Web3 Ecosystems, Tokens and Consensus Mechanisms
Source	Coleman, L., "A look to the future: Why cryptocurrencies will be needed for space colonies", CryptoCoins News, https://www.cryptocoinsnews.com/; AcceleratingBiz analysis
Original Publication Date	December 17, 2016

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