Our main sources of profit will be: “The sunflower” filling station , moon mining (as describedin Section 5), energy selling (as described in Section 7.2) & tourism. The resulting money fromthese economic activities will be mainly used for the maintenance of the settlement, since wewant its development to be self-sustainable. Nevertheless, we have to offer our inhabitants areason to go to work everyday, a reason to do their best. But here we talk about huge amountsof 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, likedollars and euros. “Space Credit” is based on the same concept as other cryptocurrenciesthat we are familiar with, being a fast and easy to set up method of payment.
Everyworking 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 ashare of our settlement’s profit. Even if we chose for our currency to have value in realmoney (i.e. any Earth’s monetary system) or not, there would be both benefits anddrawbacks.
However, we decided that “Space Credit” should have an equivalent in realmoney, as our economic system won’t be a closed one (our settlement won’t be economicself-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 ass/he would have wanted.Why not any other already existent currency? – Here we have a concrete example: Letus presume that one of our sources of profit did not produce as much money as it wouldnormally do. Since we cannot suddenly change the prices of our services just to keep ourprofit up, the share allocated to salaries might get smaller. Still, inhabitants must receivetheir salaries, which cannot be shrunk either. Therefore, the simplest way to solve theissue 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 aphenomenon similar to a crisis would happen. Hence, having a separate currency, whichhas equivalent in real money is a great alternative.
Furthermore, being miles away from our planet, we can’t use a monetary system whichvaries in direct relationship to matters on Earth. Even though many monetary systemsare considered to be, at this time, stable currencies, not so frequent events (such aspresidential 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, abig risk arises, a phenomenon similar to deflation.
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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 hasa passion for apples, which are sold with 0.50$ each. So by a simple division it resultsthat he can buy 2 million apples in an instant.
But our agricultural system can’t produce2 million apples in a blink of an eye. The one million dollars can be two, three or eventen million and the apple can be replaced with anything from food to beverage, you nameit. In brief, this is an oversimplified case in which there are less products on the marketthan money can buy.What if someone wants to go back on Earth? – There are a lot of reasons for which onecan 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, setting65an exchange rate is mandatory, but it won’t be calculated by the exact same methodsused on Earth, since there is no demand for this coin back there. Thereby, the real moneyvalue, or the exchange rate will be calculated with the following formula:value (currency) = prof it(currency)number of “Space Credits” in usewhereas: “currency” represents the monetary system you want to calculate the valuefor (e.g.
: EUR, USD, CHF etc.) and “number of “Space Credits” in use” refers to thetotal amount of money from inhabitants’ accounts – “Space Credits” used for on boardpurchases 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, visitorsbeing 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 canchoose to return to Earth, such as a happy (or sad) family event.
If the stay istemporary (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 causeand the duration of his return on Earth.• Definitive homecomings – There are probably at least as many reasons for adefinitive return as for a temporary one, ranging from any physical (diseases, illnessesor disorders – even though our medical department should easily handle them) orpsychological matters to personal needs. We shall offer shelter for the person inquestion and introduce them into recovery programs, in order to find a new job andresume their lives.
Similar to the short-term visits, any person willing to return onEarth 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 doesnot need to pay overhead expenses – water & electricity. Back on Earth, money comingfrom 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 thesettlement, buying the necessary equipment and technology. However, the remainingpart of the profit (the share from which we do not pay salaries) is used for the exactsame task.
Hence, there is no need for taxes and fees. In this degree, money earned byinhabitants rather have the role to motivate them, so they don’t feel like they work fornothing. Furthermore, “Space Credits” can be later used on the entertainment part ofthe settlement (Section 6.5), according to one’s wills and desires.
