Crypto should be the de-facto currency of Space Colonists

Historically, as people moved away from their local governments, they tended towards less attachments and less cultural cling; opting to change and mold who they are and what’s important to them in the new world.

I think something similar will happen to those who choose to leave Earth at some point in the future to go out to some far flung worlds, or even within the local solar system.

Here is why I think crypto should be the de-facto currency:

1. Space Explorers can choose what benefits of crypto they want in this new world.

For example, do they most want security? Or a quick way to do business? Maybe smart contracts become important to them and their lives, or maybe all of the benefits can be intertwined and used. I’m assuming at this point many more advancements will have been made and the best aspects can be rolled into one.

2. The people who will be using this currency can feel confident that it’s “theirs”

For this point, I’m thinking partially of American colonists who after coming to the new world were seeing less and less eye to eye with their home government, especially with the taxation issue.

Instead of having to rely on some far off land for your monetary policy, you could have direct control over your own.

On top of that, you also wouldn’t need to be dealing with private corporations from back home and could do with your currency as you saw fit.

One draw back or challenge here is still the fact that you would presumably still need to trade with your home world. Although transaction fees and network speeds might make it easy to exchange at that point.

3. Integration of new explorers into the monetary system should be easy.

Here, I’m thinking of people from different nationalities or cultural groups being able to interchange and exchange their currency easily and fit into the financial ecosystem from the get go.

4. Tinfoil hat time, if we meet intelligent life, we could possibly trade with crypto.

This is tin foil for obvious reasons but it makes sense to me that they might be able to pick up the tech and community driven ideas behind crypto instantly and maybe would be willing to trade. Or maybe this is complete garbage but either way seemed like a fun thought.