When Musk was asked about whether Dogecoin would be used as currency on Mars, he replied that the Red Planet will have to have a different currency since it will be difficult to synchronize transactions due to the speed of light.
The CEO of Tesla says,
“It’s not gonna synchronize properly.”
Aside from this, the billionaire, who was involved in PayPal, mentioned that the existing financial system is outdated.
In addition, he noted that the government is able to edit the money database, which enables them to print more money on a whim. Also, he thinks central banks money supply as a “pernicious form of taxation,” adding that crypto is capable of fixing this.
“If you are surrounded on a desert island with no food, all the Bitcoin in the world will not stop you from starving,” says Elon Musk.