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If you wonder whether anything useful is accomplished inside the ivy-covered walls of academia, I present the following as evidence that the answer is a resounding yes! According to our sister blog Engadget, researchers at the UK's National Space Centre and University of Leicester have developed a universal currency,

The Quasi Universal Intergalactic Denomination (QUID), makes obsolete our earthly dollars, euros and yuan. Now that this huge hurdle has been overcome, the small matters such as the physical impossibility of faster-than-light travel can be attended to.

The team solved two dilemmas posed by the problem of establishing planet-to- planet pocket change; the design of the money, and the rate of exchange. For design, they concluded that the new money should not have magnetically-dependent features, and no sharp edges- we'd hate to anger thin-skinned aliens with weapons who might suffer paper cuts from our folding money. Therefore, the galactic greenbacks they designed are teflon discs of incremental size, stackable and chemically inert. (The Register notes the surprising similarity of these discs to those used in The Adventure Game.)

The wampum comes in six denominations, and like much of our planet's currency, is not backed by specific assets, but is indexed against the British pound at £6.25 to one QUID. I suspect they consulted The Force to set the exchange rate.

Word on the street is that cabbies can get you a better deal, though.

Galactic currency promoters taking the long view originally appeared on BloggingStocks on Tue, 09 Oct 2007 17:44:00 EST. Please see our terms for use of feeds.

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