Our issue is to “print” more money (by
Our main sources of profit will be: “The sunflower” filling station , moon mining (as described
in Section 5), energy selling (as described in Section 7.2) & tourism. The resulting money from
these economic activities will be mainly used for the maintenance of the settlement, since we
want its development to be self-sustainable. Nevertheless, we have to offer our inhabitants a
reason to go to work everyday, a reason to do their best. But here we talk about huge amounts
of real money. Thus, do we have to give them real money? Should we invent a new currency?
How are we going to link it to the ones already existent on Earth?
Introducing “Space Credit” – “Space Credit” is going to be our space settlement currency –
an electronic currency, as knows as “cryptocurrency”; that won’t be physically printed, like
dollars and euros. “Space Credit” is based on the same concept as other cryptocurrencies
that we are familiar with, being a fast and easy to set up method of payment. Every
working inhabitant of The Iris is going to have an account similar to a bank account,
where his/her income will be delivered regularly. Money allocated for salaries act as a
share of our settlement’s profit. Even if we chose for our currency to have value in real
money (i.e. any Earth’s monetary system) or not, there would be both benefits and
drawbacks. However, we decided that “Space Credit” should have an equivalent in real
money, as our economic system won’t be a closed one (our settlement won’t be economic
self-sufficient). If we chose otherwise, we would risk the emergence of a black market –
one could have sold “Space Credits” at his/her will, setting the exchange rate as high as
s/he would have wanted.
Why not any other already existent currency? – Here we have a concrete example: Let
us presume that one of our sources of profit did not produce as much money as it would
normally do. Since we cannot suddenly change the prices of our services just to keep our
profit up, the share allocated to salaries might get smaller. Still, inhabitants must receive
their salaries, which cannot be shrunk either. Therefore, the simplest way to solve the
issue is to “print” more money (by printing we refer to adding more money in circulation).
If we chose to use an already existent currency, we couldn’t just print more money, and a
phenomenon similar to a crisis would happen. Hence, having a separate currency, which
has equivalent in real money is a great alternative.
Furthermore, being miles away from our planet, we can’t use a monetary system which
varies in direct relationship to matters on Earth. Even though many monetary systems
are considered to be, at this time, stable currencies, not so frequent events (such as
presidential elections) may affect their value. As we are aiming for a long-term evolution,
we cannot afford choosing an already existent currency.
We encourage people to move on to a better world, where they can start a new life,
leaving behind their previous-selves, along with their money. If we choose otherwise, a
big risk arises, a phenomenon similar to deflation. Let us suppose the following scenario:
a person with a fortune of 1 million U.S. Dollars wants to start his new life in space,
taking all his/her money with him/her. Let’s go further and imagine that this person has
a passion for apples, which are sold with 0.50$ each. So by a simple division it results
that he can buy 2 million apples in an instant. But our agricultural system can’t produce
2 million apples in a blink of an eye. The one million dollars can be two, three or even
ten million and the apple can be replaced with anything from food to beverage, you name
it. In brief, this is an oversimplified case in which there are less products on the market
than money can buy.
What if someone wants to go back on Earth? – There are a lot of reasons for which one
can choose to return on Earth – for a short-term or a definitive stay. Thus, back on Earth,
“Space Credit” won’t be, most likely, recognized as a viable currency. Therefore, setting
an exchange rate is mandatory, but it won’t be calculated by the exact same methods
used on Earth, since there is no demand for this coin back there. Thereby, the real money
value, or the exchange rate will be calculated with the following formula:
value (currency) = prof it(currency)
number of “Space Credits” in use
whereas: “currency” represents the monetary system you want to calculate the value
for (e.g.: EUR, USD, CHF etc.) and “number of “Space Credits” in use” refers to the
total amount of money from inhabitants’ accounts – “Space Credits” used for on board
purchases are no longer considered “in use”.
Thus, before going back on Earth, inhabitants can use the exchange machines to barter
“Space Credit” in any needed currency. By this method, we comfort tourism, visitors
being able to exchange their money for “Space Credits”.
However, if one wants to go back on Earth, two cases emerge:
• Short-term homecomings – There are a lot of reasons for which a person can
choose to return to Earth, such as a happy (or sad) family event. If the stay is
temporary (less than a few months), we will happily provide residence (if needed).
The person in question should complete an application, in which to specify the cause
and the duration of his return on Earth.
• Definitive homecomings – There are probably at least as many reasons for a
definitive return as for a temporary one, ranging from any physical (diseases, illnesses
or disorders – even though our medical department should easily handle them) or
psychological matters to personal needs. We shall offer shelter for the person in
question and introduce them into recovery programs, in order to find a new job and
resume their lives. Similar to the short-term visits, any person willing to return on
Earth should complete a form specifying the reason of their conclusive return.
Hence, even if you choose to return for a short period of time or to move back on Earth,
after you point out your reasons, we shall gladly help you with all that is needed.
Taxes and fees – Our space settlement offers every resident a reliable home, therefore one does
not need to pay overhead expenses – water & electricity. Back on Earth, money coming
from taxes and fees are later used for the proper development of the country. Accordingly,
if we charged taxes, we would use the money collected likewise for development of the
settlement, buying the necessary equipment and technology. However, the remaining
part of the profit (the share from which we do not pay salaries) is used for the exact
same task. Hence, there is no need for taxes and fees. In this degree, money earned by
inhabitants rather have the role to motivate them, so they don’t feel like they work for
nothing. Furthermore, “Space Credits” can be later used on the entertainment part of
the settlement (Section 6.5), according to one’s wills and desires.