Quasi Universal Intergalactic Denomination

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Some of the new Quid 'coins'
Some of the new Quid 'coins'

The Quasi Universal Intergalactic Denomination, called the 'Quid', is a prototype for a possible future type of currency for use by space tourists.[1][2][3] 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.[1] The Quid is made from teflon, and has rounded edges to prevent damage in low gravity environments.[4][5] The full name is a backronym from 'quid', a slang term for the British Pound.

Contents

[edit] 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.[3] 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."[1]

[edit] Unique currency

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Because of difficulties with using common forms of currency in space, cash or credit cards would not be of practical use in space.[5] A unique form of currency will be needed for the unique environment of space.[1][3] The magnetic strips on credit cards would 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.[1] 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.[1][3]

Scientists from the National Space Centre, and the University of Leicester worked together to create the new currency for the foreign exchange company Travelex.[3][4]

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.[2][3][5] 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.[3] Travelex has stated it plans to work with the Bank of England to begin registering the Quid as possible legal currency in the future.[3]

[edit] Conversion rate

The proposed current conversion rate is 6.25 British Pounds per one Quid, or about 12.77 USD,[1] but since it is an experimental prototype, the Quid is not accepted in any current market, cannot be purchased, and therefore has no value.

[edit] See also

[edit] References

  1. ^ a b c d e f g BBC News (2007). New currency for space travellers. BBC News. Retrieved on October 9, 2007.
  2. ^ a b United Press International (2007). Going into space? Better bring some quid. United Press International. Retrieved on October 9, 2007.
  3. ^ a b c d e f g h Sky News (2007). Quids In: New Space Currency Launched. Sky News. Retrieved on October 9, 2007.
  4. ^ a b Travelex (2007). Travelex Press Release (English). Travelex. Retrieved on October 9, 2007.
  5. ^ a b c Channel 4 News (2007). Space currency named 'quids'. Channel 4 News. Retrieved on October 9, 2007.

[edit] External links

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