Introducing Mintchip, Canada jumps into digital currency

The Royal Canadian Mint is contemplating an alternative to physical currency for its citizens that it believes needs to fit today's digital economy. So it has invited computer software developers to make payment applications using MintChip. The Royal Canadian Mint is aiming for a new brand of transactions that are smaller, faster, and virtually everywhere. MintChip would require shoppers to load currency onto a smartphone, USB stick, computer, tablet, cloud and use that to pay instead of physical currency. The idea is that you would be able to use MintChip everywhere, online, stores, or for personal transactions without giving up any of your personal data. Conspiracy theorists, start your engines.