Royal Canadian Mint To Create Digital Currency

Posted on Sunday, April 15 at 11:59 by NAUWATCH

The Royal Canadian Mint wants to get rid of pocket change — and it’s enlisting hacker-types for help.

Less than a week after the government announced the penny’s impending death, the Mint quietly unveiled its digital currency called MintChip.

Still in the research and development phase, MintChip will ultimately let people pay each other directly using smartphones, USB sticks, computers, tablets and clouds. The digital currency will be anonymous and good for small transactions — just like cash, the Mint says.

read full article http://www.thestar.com/business/article/1159513--royal-canadian-mint-to-create-digital-currency

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  1. by RickW
    Sun Apr 15, 2012 10:58 pm
    Isn't this a bit like re-inventing the wheel?
    http://www.southafrica.info/business/tr ... 050412.htm
    There was a program on CBC's (sadly, to be axed thanks to Harper) on the subject of mobile money in Africa.

  2. Mon Apr 16, 2012 9:07 pm
    Canada Moves Closer to Cashless Society With Digital MintChip Currency

    As free market-based digital currencies like Bitcoin and e-gold continue to gain traction around the world, the government of Canada responded with the ?MintChip,? an electronic payment system touted by authorities as ?better than cash? and the ?evolution of currency.? Critics of the scheme, however, were not so enthusiastic about the accelerating march toward a cashless society.

    read more http://www.thenewamerican.com/economy/m ... p-currency

  3. Mon Apr 16, 2012 11:48 pm
    "Hacker types", Luddite much? :roll:

  4. by RickW
    Tue Apr 17, 2012 12:22 am
    "NAUWATCH" said
    Canada Moves Closer to Cashless Society With Digital MintChip Currency

    As free market-based digital currencies like Bitcoin and e-gold continue to gain traction around the world, the government of Canada responded with the ?MintChip,? an electronic payment system touted by authorities as ?better than cash? and the ?evolution of currency.? Critics of the scheme, however, were not so enthusiastic about the accelerating march toward a cashless society.

    read more http://www.thenewamerican.com/economy/m ... p-currency



    This is only happening because Harper is obsessed with wringing every dime in income tax out of the peons. The notion that transactions cannot be tracked is a pleasant fable only. If it's electronic, it can be tracked.

  5. Sat Apr 21, 2012 11:49 pm
    What would dope dealers and the underground economy use for currency? Euros? US dollars? They won't simply decide to not exist any more! NOT LIKELY! Their demand would create a supply. What would farmers market and road side veggie stands use?
    This would allow big brother to track every purchase you make, a huge intrusion by government on our personal privacy, and a possible violation of the unreasonable search and seizure provisions in the charter. Old people, who haven't been able to figure out modern electronics, would be forced into poverty and homelessness.
    Orwellian!

  6. by RickW
    Thu Apr 26, 2012 1:54 am
    This would allow big brother to track every purchase you make, a huge intrusion by government on our personal privacy


    Which is excatly why Harper wants this.



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