Cryptocurrency: A Perfect Solution For Intergalactic Trade

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Estimated reading time: 2 minutes, 1 second

A History of Trade & Possibilities for Intergalactic Trade

Since the discovery of outer space, mankind has seemingly been fascinated by the possibility of other intelligent life forms living outside the boundaries of planet Earth.

Countless films reflect the ideas of this very subject. However, many of these films center around these newly discovered life forms attempting to wipe out the human race.

Yet if we look at our own species history, we find that exploration of any kind usually centers around trade. For example, Christopher Columbus is best known for discovering the New World, but he was actually looking for a trade route from Europe to Asia. Assuming our potential new friends from another galaxy are like-minded in that they will likely be looking to do a bit of wheeling and dealing with us Earth folk.

Elimination of barriers to trade

The problem is we are a bit of a divided species in terms of the currency we use for trade. Even an advanced race capable of intergalactic travel could likely be overwhelmed trying to figure out exchange rates and monetary units used in each of 196 countries on Earth. 

Fortunately, for our new found extraterrestrial colleagues, we have an easy solution: cryptocurrency. The only currency known to man (or perhaps any other species) that is void of any centralization or government regulation is crypto. Basically, the aliens could cut through a lot of red tapes by going the Bitcoin (or any other cryptocurrency) route.

There would be no need to come up with complex trade deals with every national government. Why would they want to that? Instead, they could get Ledger Nano S wallet and/or a Coinbase account and be ready to trade with millions of Earthlings around the globe peer-to-peer.

Freeing beings for interstellar trading

The use of blockchain technology will alleviate the necessity for our new trade partner to have to deal with high-level government bureaucrats and help streamline the entire interstellar bartering process.

Instead of explaining the difference between The Yen and The Pound, we could introduce them to Ethereum and Litecoin, currencies that know no borders.

Beings intelligent enough to create technologies allowing them to travel the universe will certainly see the advantages that cryptocurrency tokens can provide for intergalactic trade.

Utilizing a distributive database like Blockchain for transactions is a step toward bringing our world and perhaps someday other worlds like it…that much closer together.

 

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