Bitcoin Digital Currency Has Competition, Eh?
Bitcoin and its ilk may be coming in the not-too-distant future, either working with or even in place of, the coins and currency we collect. The Royal Canadian Mint isn’t taking this lying down. They’ve developed MintChip, a digital currency that some are calling a competitor to Bitcoin. Touted as “better than cash” (at least for Canadians), they’ve issued a challenge with prize money for software developers who write apps that use the currency.
Who knows where this particular project will lead, but the larger takeaway is a trend away from physical objects to represent our money and a move to the ethereal as our society embraces the digital realm.