PayPal launches Galactic program to prepare payment systems for space commercialization

The international payment system PayPal announced the launch of the Galactic program, under which it is planned to investigate the possibility of making payments in space. It is reported that the company intends to help people who find themselves outside the Earth. In particular, we are talking about astronauts who can pay bills and buy digital content during their time in space. As it is known, astronaut Chris Hadfield, being in orbit, followed the innovations of technologies and the Internet: he even appeared on Reddit and recorded several informative videos .

By the way, if you want to know how many people are in space right now, you can do it on the website howmanypeopleareinspacerightnow.com

PayPal works with a number of leading scientific organizations and individuals, such as the SETI Institute , the Space Tourism Development Community and the famous cosmonaut Buzz Aldrin , to identify key issues related to the future of space travel.

Since Virgin, SpaceX, and others are seeking to commercialize space travel, the company plans to consider the following issues first:

• What will be the standard currency in a cashless interplanetary community?
• How to adapt banking systems?
• In what direction should fraud and risk prevention systems evolve?
• What regulations will need to be passed?
• How will consumers respond to the need for such a development?

Answers to these questions - or at least preliminary versions - as well as additional information can be obtained by looking at the recording of the online broadcast, which PayPal conducted with its space friends on Thursday, June 27th.
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Full details are available at paypal-galactic.com

After the first announcement of the Galactic program, a company representative said: “We have yet to explore some of the details, so we will keep everyone up to date with our work until the day when we can really turn space into commercial reality.

On Earth, the company also has a lot of questions that need attention, in particular, the mobile system PayPal Here, which operates in the USA and Japan and is scheduled to be launched in the UK this summer.