Travelex launches private space currency

[burnthebeautiful]

I just came across this press release and found it pretty cool. For various reasons you can't use either cash or credit cards in space, and with space tourism on its way, the folks at currency exchange company Travelex took it upon themselves to develop their own currency that people will be able to use in space. The currency cash, called QUID, is "backed" by the fact that it can be exchanged for virtually any other currency at Travelex's currency exchange stores.

More:

Scientists have come up with a new currency designed to be used by inter-planetary travellers.

It is called the Quasi Universal Intergalactic Denomination, or Quid.

It is designed to withstand the stresses of space travel and has no sharp edges or chemicals that could hurt space tourists.

It was designed for the foreign exchange company Travelex by scientists from the National Space Centre and the University of Leicester.

"None of the existing payment systems we use on earth - like cash, credit or debit cards - could be used in space," said Professor George Fraser from the University of Leicester.

"Anything with sharp edges, like coins, would be a risk to astronauts while the chips and magnetic strips used in our cards on Earth would be damaged beyond repair by cosmic radiation," he added.

BBC article
Original press release

[Lasse]

Is there any reason at all not to use those on earth, like liberty dollars are being used? Fancy stuff.

[error]

It is currently quoting the currency at £6.25 to the Quid.

Finally, the quid is worth something again!

[mvpel]

So - issue a credit card with the number as a Code 128 barcode on the back, and use the internet connection to clear it?

[error]

You can't maintain an Internet connection while orbiting the moon, or even from the vicinity of the moon. Not yet, anyway.

[burnthebeautiful]

Is there any reason at all not to use those on earth, like liberty dollars are being used? Fancy stuff.

If I understand the press release correctly, anyone will be able to go into a Travelex shop and buy QUID's the same way they buy any other currency, so I don't see why not. I find the concept of exchange places having their own currencies interesting in general, it's almost strange that currency exchange companies haven't done it before. With QUID's, you don't have to be dependent on any one currency. If one currency loses its value, your QUID can just be exchanged for some other currency instead. Maybe not as good as a gold standard, but an interesting idea.

I want to buy some QUID's just for novelty value, they look cool:

[mvpel]

You can't maintain an Internet connection while orbiting the moon, or even from the vicinity of the moon. Not yet, anyway.

I've been dealing with the internet since the mid-80's or so, and have seen IP packets sent over links with three seconds or more RTT - mainly due to the use of 36k modems in the path and congestion on the link.  If you adjust your timeouts properly, you could browse the web from the moon.