Elon Musk: Mars will have its own crypto, but no Dogecoin

In an appearance on a famous podcast with Lex Friedman, laid Elon Musk explains why Dogecoin (DOGE) cannot become the official currency of Mars.

Elon Musk Explains Why Dogecoin Won’t Become Mars’ Official Currency

As a fan of Dogecoin, Elon Musk confirmed on December 14 that Tesla will accept Dogecoin for merchandise. He did this after stating that Doge is a better payment method than Bitcoin.

Excited about arriving on Mars in the coming years, Elon Musk always talks about it whenever he can. The CEO of SpaceX is one of the space entrepreneurs who wants to reach Mars. His dream is to colonize the planet.

On previous occasions, Musk has even said that it would be better if more people were born on Earth. He thinks many will eventually migrate to Mars. In a podcast with Lex Friedman, the richest man in the world revealed his thoughts on the future of the fourth planet of our solar system located an average distance of about 228 million kilometers.

According to him, once colonized, Mars will belong to the people who will live there. Laws and civilizations on Mars will not be subject to rules that apply in countries on Earth.

Another point discussed was about the local currency of Mars. When Friedman asked Elon that he recently said that SpaceX will bring Dogecoin to Mars, there are therefore plans to make DOGE the official currency of Mars. In response, Musk revealed that it is impossible for Dogecoin to be the coin of Mars. He said the following:

“Well I think Mars itself will have to have a different currency. You cannot synchronize Dogecoin because of the speed of light.”

Friedman also wondered if the coins are complete standalone from Earth. The Tesla CEO said the following:

“Yes, because Mars is roughly four light minutes away from us at its closest approach. At the furthest approach, that’s roughly 20 light minutes, or maybe a little more, so you can’t really get anything synced up. You know, if you have a 20 minute speed light problem, if it has a one minute blockchain it won’t sync properly.”

Billionaire believes Mars will have a cryptocurrency.

Although Elon Musk does not believe it is possible to synchronize the Dogecoin network from Mars, he does believe that the newly colonized planet will have a cryptocurrency in the future.

When asked about the future on the planet, he said he will not decide alone. The population that will live there has control over this. Musk said the following about this:

“I don’t know if Mars will have any cryptocurrency, but probably will, and it will be sort of a localized thing on Mars. I think cryptocurrencies are an interesting approach to reduce errors in the database called money.”

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