Elon Musk says Mars economy will be based on cryptocurrency

Tech billionaire Elon Musk has suggested that Mars economy will be based on cryptocurrency when humans begin settling on it.

Tesla and SpaceX boss, Elon Musk confirms that Mars economy will likely run on cryptocurrency. He made the statement in response to a Lex Fridman Twitter thread.

Musk further hinted at the particular cryptocurrency being Dogecoin or Marscoin. He has also made some bold statements about when his space company will be ready to take people to Mars.

Speaking at the Axel Springer Award 2020, Elon Musk said that an uncrewed SpaceX vessel will be going to Mars by 2022 while humans will be flying there by 2024 or 2026.

See also: SpaceX Starship successfully launched on first flight

He explained that trips to Mars depend upon the planet’s orbit lining up with Earth’s, which takes place roughly every two years.

Musk’s SpaceX is already testing Starship prototype crafts that can carry about 100 people to Mars; it plans to build 1,000 of this spacecraft in the future.

While humans colonising Mars may seem too farfetched, the realisation of this dream may just be around the corner. There are even already conversations about what set of rules and which type of government will govern Mars.