Science

Space Currency Could Enable Commerce on a Galactic-Scale

Imagine a future where you want to buy something from Pluto, a planetoid so far away that Sun’s rays take sun five minutes to reach it. Hypothetically speaking what will you pay with?

Professor Adrian Kent from the University of Cambridge suggests that inter-galactic purchases can be possible using S-money, a theoretical form of virtual money that could make secure and speedy financial transactions viable across galactic distances.

S-money follows the fundamentals of both quantum theory and theory of relativity to empower ultra-fast, ultra-secure financial fund transactions over almost any distance. At the same time this ‘quantum money’ will be capable of shielding your funds from attacks by ultra-powerful quantum computers, the primary cybersecurity threat presently on Earth.

The framework for this currency has been described in a paper published in the journal Proceedings of the Royal Society this Wednesday. Although the concept is a little futuristic, it is based on the creation of a finance network over which secure virtual tokens could “materialize” at just the right place and time.

Kent said in a press release, “It’s a slightly different way of thinking about money. Instead of something that we hold in our hands or in our bank accounts, money could be thought of as something that you need to get to a certain point in space and time, in response to data that’s coming from lots of other points in space and time.”

Later in 2019, he plans to conduct some proof-of-concept testing on S-money. If successful, the days of buying Martian goods in the online marketplace may not be far.

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