Wednesday, April 11, 2012

Alert: Canada to Issue Digital Money

The development of a money that tracks what you do with your funds is about to go into overdrive with a test of digital money in Canada.

Last week, the Canadian Royal Mint announced the release of MintChip, a completely digital currency. “Money, as we know it, is fine for today, but tomorrow is a different story,” says an introductory MintChip video. “MintChip is better than cash, since you can use it online.”

The Mint is downplaying the tracking capabilities of the digital currency.

MintChip stores value in a physical chip, and transfers money between chips using heavily encrypted “value messages.” The system has no centralized database. “They’re calling it anonymous … their intention is that it’s no more associated with who you are than [traditional] currency,” said Jacqueline Chilton with Glenbrook Partners, a California-based payment consultant, reports the National Post.

BUT, Chilton noted there is still the possibility for MintChip-specific apps to covertly record transactions.


  1. I'm amazed at how hell bent some are on rolling out these types of programs.

    Mark my words, when hacks and scams are developed that can make everyone an instant millionare these programs will be promptly deposited into the dust bins of history.

    Silly rabbit, only Central Banks can create money out of thin air, not peasants.

  2. Perhaps this is a super secret operation by Canada to destroy the central banks of the world by making everyone their own central banker and issuing their own money?

    Forget the chicken in every pot, it's a printing press in every pocket!

  3. The MintChip articles keep comparing it to bitcoin but a more improved version.

    They just don't get it -- what people like about bitcoin is the absence of a central authority, even a mint.

  4. No mention of something such as "the Zap" either.

    It cost me over $100 to get my account straitened up after my landline telephone company finally "straightened things out". From what I understand many many other accounts were involved with "the Zap" too, however they were never forthcoming about what exactly "the Zap" was or how many People were affected.

    Zap! "We're sorry, that account has been disconnected". Beep.

    - clark

  5. What would drug dealers use?