Cosmic Currency: PayPal and SETI Developing Space Cash System

Scientists searching for extraterrestrials are teaming up with one of the world’s best-known online-transaction companies to create the first system for space-based payments for astronauts and tourists venturing beyond Earth, project officials announced today (June 27).

Called PayPal Galactic, the new initiative seeks to help lay the financial groundwork for the rapidly evolving field of commercial spaceflight and other private space commerce.

The novel project will investigate the best options for cosmic currency in a cash-free interplanetary society. It also seeks to study the potential changes in store for banks and financial regulations as humanity increasingly expands its activities in space.

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