Canadian firm Geometric Energy Corporation has announced a partnership with Elon Musk’s SpaceX to launch a mission to the Moon that is funded entirely with the Dogecoin cryptocurrency.
During his appearance on the latest episode of Saturday Night Live, Musk claimed that Dogecoin will “take over the world.” Ironically, the cryptocurrency actually had a nearly 30 percent price drop during Musk’s SNL debut.
“Geometric Energy Corporation’s DOGE-1 Mission to the Moon will involve Geometric Space Corporation (GSC) mission management collaborating with SpaceX to launch a 40kg [88 pounds] cubesat as a rideshare on a Falcon 9 lunar payload mission in Q1 2022. The payload will obtain lunar-spatial intelligence from sensors and cameras on-board with integrated communications and computational systems,” the company said in a statement.
According to SpaceX Vice President of Commercial Sales Tom Ochinero, the mission will show that cryptocurrencies can be used beyond Earth and lay the foundations for interplanetary commerce.
“Indeed, through this very transaction, DOGE has proven to be a fast, reliable, and cryptographically secure digital currency that operates when traditional banks cannot and is sophisticated enough to finance a commercial Moon mission in full.
It has been chosen as the unit of account for all lunar business between SpaceX and Geometric Energy Corporation and sets precedent for future missions to the Moon and Mars,” the GSC added.
Launched in 2013, Dogecoin is a cryptocurrency based on the Litecoin algorithm.