The world’s richest man, Elon Musk, together with the CEO of leading crypto exchange, Binance, Changpeng Zhao, has discussed the possibility of developing Marscoin — a digital currency that would power the Mars economy. Musk has not hidden his intentions of having a human settlement in Mars and has openly said he would love to send the first humans to Mars as early 2024.
This conversation had been ignited when Musk spoke about the concentration of Dogecoin in the hands of a few individuals, this prompted discussions about settlements on Mars being powered by crypto assets like DOGE. He was then advised by a Twitter user to instead set up an Eloncoin, which the Tesla founder replied that it was possible especially if he saw the need for it.
Binance CEO then quickly interjected that “it was necessary” and maybe he should “call it Marscoin,” which Musk agreed to. The crypto exchange CEO went on to add that Musk should make sure the token is not a security so that his platform could list it.
Interestingly, a digital coin named Marscoin currently exists. This asset is derived from the Litecoin form of BTC. The project had gained some level of popularity in 2017 when the crypto industry was on a bull run and its market cap is less than $100,000.