The Canadian Mint Is Working On A New Digital Money Project Called ‘MintChip’, No It’s Not Ice Cream…It’s A New Form Of Digital Currency, Does BitCoin Ring A Bell?

Posted By on October 31, 2013

BitCoin may have become the fuzzy model for countries around the world to modify the digital money idea. Software engineers for Crown Corp in Canada will begin pilot testing a novel form of digital currency that so far has received little attention.  It has the potential to revolutionize how we do business. “Where we’re going is not a road that has been travelled,” said Marc Brûlé, head of the MintChip project and chief financial officer of the Mint. “It has its challenges but there are lots of people who are encouraging us.”

According to the Financial Post, the initiative has mostly been cloaked in secrecy — apart from an app building contest last year aimed at coming up with new ways of using the currency. Beyond that, the Mint has been determinedly tight-lipped about what it’s up to.

MintChip is “the future of money,” according to the Mint’s promotional video, which goes on to present it as a digital version that would be legal tender, just like physical dollars and cents. You would hold it on a smartphone or other electronic device, just like a wallet. More to come on this dynamic new technology.

Now you may ask just who is Crown Corp? It’s a fair question.

From Wikipedia:

Canadian Crown corporations are enterprises owned by the federal state (the Crown, or Queen, in right of Canada or a provincial state (the Crown, or Queen, in right of a province); they are established by an act of the relevant parliament and report to that body via a minister of the Crown in the relevant cabinet though they are “shielded from constant government intervention and legislative oversight” and thus “generally enjoy greater freedom from direct political control than government departments.”

Crown corporations have a long standing presence in the country and have been instrumental in the formation of the state. They can provide services required by the public that otherwise would not be economically viable as a private enterprise, or don’t fit exactly within the scope of any ministry. They are involved in everything from the distribution, use, and price of certain goods and services to energy development, resource extraction, public transportation, cultural promotion, and property management.

Learn about BitCoin here http://en.wikipedia.org/wiki/Bitcoin  and www.bitcoin.com

WiseDog Research, Wilipedia

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