Quasi Universal Intergalactic Denomination

The Quasi Universal Intergalactic Denomination, called the 'Quid', is a prototype for a possible future type of currency for use by space tourists.Cite web|url=http://news.bbc.co.uk/1/hi/business/7029564.stm|title=New currency for space travellers|accessyear=2007|accessmonthday=October 9|publisher=BBC News|year=2007|author=BBC News] Cite web|url=http://www.upi.com/NewsTrack/Quirks/2007/10/06/going_into_space_better_bring_some_quid/4113/|title=Going into space? Better bring some quid|accessyear=2007|accessmonthday=October 9|publisher=United Press International|year=2007|author=United Press International] Cite web|url=http://news.sky.com/skynews/article/0,,30400-1287061,00.html|title=Quids In: New Space Currency Launched|accessyear=2007|accessmonthday=October 9|publisher=Sky News|year=2007|author=Sky News] The idea behind the design was to create a possible form of currency that would have no sharp edges, no harmful chemicals, and be made out of a material that would stand up to the rigors of space travel. The Quid is made from teflon, and has rounded edges to prevent damage in low gravity environments.Cite web |url=http://www.travelex.co.uk/press/ENG/DOC_QUID_10042007.asp| title=Travelex Press Release |accessyear=2007|accessmonthday=October 9|publisher=Travelex|year=2007|author=Travelex|language=English] Cite web|url=http://www.channel4.com/news/articles/business_money/space+currency+named+quids/879462|title=Space currency named 'quids'|accessyear=2007|accessmonthday=October 9|publisher=Channel 4 News|year=2007|author=Channel 4 News] The full name is a backronym from 'quid', a slang term for the British Pound.

History

With the growth and popularity of commercial space travel looming in the future, the National Space Centre predicts that within five years, trips to space will be commonplace, and by the year 2050, there will be tourist facilities on the Moon. Bigelow Aerospace is developing an inflatable space hotel, and Virgin Galactic is developing SpaceShipTwo. All these possibilities combined, required a unique solution to currency. Professor George Fraser of the University of Leicester says, "In the fullness of time, we will have to adopt a universal currency if we are going to carry out serious commerce in space. It's an interesting initiative."

First prototype

Because of difficulties with using common forms of currency such as cash or credit cards in space, it is theorized that a special form of currency will be needed for the unique environment. The magnetic strips on credit cards would most likely be damaged by the levels of radiation in space, and the sharp edges of coins could damage spacecraft, equipment, or astronauts when flying loose in space. Also of concern, using a currency that would require authorization by communicating with Earth would be impractical for future space travelers, who may go great distances from the Earth.

Scientists from the National Space Centre, and the University of Leicester worked together to create a new currency prototype for the foreign exchange company Travelex.

The end result was a series of circular clear discs, with colored centers, symbolizing the eight planets of the Solar System inside, and denominations ranging from 1 to 10. Each quid coin would have its own unique code number, similar to the serial number on paper currency, to allow tracking, and to prevent counterfeiting. Travelex has stated it plans to work with the Bank of England to begin registering the Quid as possible legal currency in the future.

Conversion rate

The proposed current conversion rate is 6.25 British Pounds per one Quid, or about 12.77 USD, but since it is an experimental prototype, the Quid is not accepted in any current market, cannot be purchased, and therefore has no value.

ee also

*Space Adventures
*Space colonization
*Commercial Astronaut
*Space Tourism Society
*List of private spaceflight companies

References

External links

* [http://dvice.com/archives/2007/10/travelex_quid_intergalactic_cu.php DVICE: Travelex QUID: "Intergalactic currency" for your next trip into space]
* [http://blogs.nature.com/news/thegreatbeyond/2007/10/space_currency_nonsense.html Nature.com blog:‘Space currency’ nonsense]
* [http://rescommunis.wordpress.com/2007/10/22/space-money-and-space-law/ Res Communis blog: Space Law and Space Money]
* [http://blog.wired.com/gadgets/2007/10/useless-space-m.html Wired.com: Useless Space Money Invented]