2014 Program Schedule
The 17th Annual International Mars Society ConventionSouth Shore Harbour Resort (SSHR), League City, TX, August 7-10, 2014
17th Mars Convention, Aug. 7th, 3-3:30 pm
Marscoin: A Cryptocurrency Exploring Private Funding to Bootstrap Space Colonizationhttp://www.marssociety.org/a/marssociety.org/www/conventions/2014/program-schedule======================
Marscoin - A cryptocurrency exploring private funding to bootstrap space colonization
The Marscoin Foundation, Inc.
Marscoin proposes a public funding model for space colonization based on a peer-to-peer cryptocurrency network, built on the Bitcoin code. It tackles the largely unsolved funding hurdles for mankind's space exploration efforts by establishing a global, supra-national, voluntary currency that attempts to bootstrap future Mars colonies, incentivizing adoption of the digital currency as a stake in the colonies' future economy. Individuals that invest into this "joint-stock" colony funding model elevate the exchange rate of the currency, in effect providing the early stakeholders with the funding necessary for the construction of the future base. A copy of Marscoin, which is in essence a cryptographically secured public ledger, can then be transferred to the new colony, where it becomes the backbone of the future settlement's financial system. This proposed physical transfer of all the investments made by the early adopters of Marscoin thus not only funds the new colony ahead of time, but becomes the bedrock of the planet's growing economy. By virtue of its intrinsic algorithmic scarcity and immunity to inflation, any economic growth in the future colony will be reflected in the rising value of the currency on the new planet. As mission milestones are met, adoption rates are expected to accelerate and therefore increase the value of Marscoin. The net effect of this increasing value allows mission funding to become increasingly effective as the launch date nears. This model creates a financial incentive for the early stakeholders to achieve progress quickly and efficiently, and for an engaged and directly involved public. Marscoin is a proof-of-concept exploring financially viable private methods in dramatically lowering the threshold for funding colonies beyond planet Earth. It directly involves the general public in space exploration as it offers tangible ownership of the project with possible future financial benefits.
