The MintChip experiment appears to be over and is being sold off
About 18 months ago I attended the introduction of Mintchip by the Royal Canadian Mint.
Mintchip is a project of the Royal Canadian Mint designed to provide an infrastructure for payments that would replace cash.
But now in a dramatic change of strategy, they are intending to divest Mintchip to the private sector. This is disappointing. In the article it is clear progress was being made, and alliances arranged with security and terminal vendors. It is unclear what the future will hold for MintChip now.
It is especially disappointing because government involvement was one of the attractive aspects because it made the concept trustable and a suitable replacement for cash. For me it set up a perfect real world comparison to Bitcoin and I discussed that here along several levels such as Government or not, P2P or not, unique ‘coins’ or not, new currency vs new transmission of existing currency.
I wonder (speculation here) if industry lobbyists got involved here, is it just to experimental for the Government, or did someone decide it is not the role of government to develop money transmission methods.