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How to pay on Mars?

by Alexander Malygin


3 min read

No other planet has grabbed our collective attention like Mars.

Since ancient times, the secret of the Red Planet has excited many minds and imaginations. And if earlier it was associated with mysticism, today we can proudly talk about the design of high-tech innovations for any special requirements, where payments are no exception.

Mars invasion

Given the growing population, the question arises about the colonization of the planets of the solar system. At this stage of space exploration, Mars is the most suitable place for this purpose. But first, it makes sense to transform the planet so that it becomes more habitable. The process will necessarily be the subject of “space economy” formation. Here the scope of activity extends beyond the state level and affects the broad interests of multiple commercial enterprises. As the space becomes increasingly privatized and requires more technology-intensive, its link with crypto is growing thick.

Thousands of people will fly into space, and no one is going to take cash with them.

Crypto needs more space!

At the first stage, cryptocurrency is a source of funding for new space programs and companies. With its help, the future cashless interplanetary voyages receive timely and accessible funding from crypto moguls.

  • Winklevoss twins back Payload, a new outlet covering the business of space. Geometric Energy Corporation announces the dogecoin-funded mission, with DOGE-1 representing a 40-kilogram cube satellite flying as a payload on a Falcon 9 rocket.

  • Geometric Energy Corporation announces the dogecoin-funded mission, with DOGE-1 representing a 40-kilogram cube satellite flying as a payload on a Falcon 9 rocket.

At the second stage, space is a place to deploy infrastructure to improve crypto networks. Here the distance and the autonomy of end-to-end encrypted satellite communications and key storage greatly enhance the security of data and transactions, which can be vulnerable to cyberattacks and hacking if hosted exclusively on physical earth servers.

  • Biteeu successfully launches its digital security infrastructure into space.
  • Blockstream plans to build a floating web of satellites to beam BTC payments.
  • SpaceChain corporation works to integrate space and blockchain technologies to facilitate deep space communication and commerce.

Finally, crypto becomes the monetary standard of future extraterrestrial settlements. On Mars, people will need as many comforts from home as possible. Fast payments are essential whether you are paying the bill or even helping a family member with some ETH on Earth.

Your first transaction

In theory, your first transaction from Mars has great geolocation potential. However, the safety of the landing site is still critical. There are some no-go zones, where your spaceship won’t land for sure. However, the good news is that Mars has as much land area as our own Earth. This means potentially a plethora of places where you could make your first footprint, open your crypto wallet, enter the public address, type the amount of crypto you wish to send, and successfully make your first transaction!

Here are eight landing sites evaluated by scientists and engineers to be very promising:

  • Columbia Hills, Gusev Crater
  • Eberswalde
  • Holden Crater
  • Jezero Crater
  • Mawrth Vallis
  • NE Syrtis
  • Nili Fossae
  • SW Melas

Value of crypto on Mars

It is fair to say that the commercialization of Mars will give new opportunities to a wide variety of business sectors, and crypto, given its mind-blowing potential, will not stay outside. The presence of cryptocurrencies in space will create models of an open economy that expand the possibilities of new projects, especially Mars ones. This new socio-economic model will support a globally shared and sustainable commercial space program. In turn, satellite technology with blockchain nodes will optimize collective intelligence, creating more opportunities for collaborative workflows. Eventually, these will reduce inefficiency and bring down the cost of space-based application development.

Since the space business opportunity is in the drafting stage, for now, we suggest you find your crypto providers on the planet Earth.

Finscanner marketplace is at your service! Feel free to reach out to us today to get started!

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