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PayPal Galactic Aims To Create A New Currency For Space

PayPal Galactic Aims To Create A New Currency For Space
Luxury

With an increasing interest in space tourism, the virtual payment program seeks to address potential monetary issues.

Daniela Walker
  • 1 july 2013

In the next five years, space is going to be the tourist destination, where people go to see and be seen. With flights on Virgin Galactic selling for$200,000 a ticket and talks of an orbiting space hotel by 2016, Outer Space is the place to be. But it is not obvious how tourists will do what they do best when they get there — spend money. The issue of currency or any monetary system has yet to be figured out and so PayPal has launched Paypal Galactic to do just that. The e-commerce business is collaborating with SETI Institute and the Space Tourism Society, to determine how money will work out in the cosmos.

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