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Thread: No Money, No Problems: Canada Considers Completely Digital Currency

  1. #1
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    Arrow No Money, No Problems: Canada Considers Completely Digital Currency

    No Money, No Problems: Canada Considers Completely Digital Currency


    While Americans pull crumpled paper bills out of their pockets to pay for their Mega Millions tickets, Canadians are busy ditching all of their old currency. The Canadian government introduced plastic bills in November, recently announced it was doing away with pennies and now is looking to go digital.

    The Royal Canadian Mint has announced it will release a completely digital currency called MintChip. Aside from sounding delicious, MintChip will be stored on physical chips and will be able to hand both big purchases and nano-transactions – purchases less than $1.

    If this all sounds a lot like BitCoin — the favorite currency of techies and libertarians alike — that’s because it is, according to the National Post:
    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.
    If you drop your plastic chip, the money on that chip is gone, just as if you’d dropped a $5 bill. Then there’s the issue of hacking.
    Bitcoin Magazine writer Vitalik Buterin told the National Post that other “unhackable chips” had been compromised using electron microscopes, needles and acid. Still, the Canadian government seems bent on winning the Canadian public over.

    On April 5, Royal Canadian Mint announced a contest to entice software developers to create apps for the new currency. The prize is $50,000 in the most old-school currency on Earth — solid gold. Who says government bureaucrats don’t have a sense of humor?


    Read more: http://techland.time.com/2012/04/10/...#ixzz1rfDvKOJb
    "But none of the wicked shall understand [that the End of the Age is upon them]."
    [Daniel 12:10b]

  2. #2
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    Perfect.

    First, the penny, now--ALL money.

    And isn't the North American whatumacallit summit meeting going on now between Canada, Mexico, and the US?

    How easily this all fits together!

    They know full well the world (and especially US) economy is headed for implosion, and so they are already putting into place the necessary apparatus for the economic system that will take its place.

    The fact that it ushers in a TOTALLY controllable, trackable program of ALL transactions for every person is an added plus for any would-be despots looking to rule the world.

    And the problem of "losing" the info on the chip due to its being dropped or hacked?

    No problem.

    Just implant it.

    Maybe in a nice, easily-accessible place---like the right hand or the forehead.
    The only "change" I CAN believe in: I Corinthians 15: 51-52!

  3. #3
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    Quote Originally Posted by The Watcher View Post
    No Money, No Problems: Canada Considers Completely Digital Currency


    While Americans pull crumpled paper bills out of their pockets to pay for their Mega Millions tickets, Canadians are busy ditching all of their old currency. The Canadian government introduced plastic bills in November, recently announced it was doing away with pennies and now is looking to go digital.

    The Royal Canadian Mint has announced it will release a completely digital currency called MintChip. Aside from sounding delicious, MintChip will be stored on physical chips and will be able to hand both big purchases and nano-transactions – purchases less than $1.

    If this all sounds a lot like BitCoin — the favorite currency of techies and libertarians alike — that’s because it is, according to the National Post:
    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.
    If you drop your plastic chip, the money on that chip is gone, just as if you’d dropped a $5 bill. Then there’s the issue of hacking.
    Bitcoin Magazine writer Vitalik Buterin told the National Post that other “unhackable chips” had been compromised using electron microscopes, needles and acid. Still, the Canadian government seems bent on winning the Canadian public over.

    On April 5, Royal Canadian Mint announced a contest to entice software developers to create apps for the new currency. The prize is $50,000 in the most old-school currency on Earth — solid gold. Who says government bureaucrats don’t have a sense of humor?


    Read more: http://techland.time.com/2012/04/10/...#ixzz1rfDvKOJb
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  4. #4
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    Quote Originally Posted by countrymouse View Post
    The fact that it ushers in a TOTALLY controllable, trackable program of ALL transactions for every person is an added plus for any would-be despots looking to rule the world.
    Exactly.

    Now, just picture a POS like Obama - or ANY of our politicians or bureaucrats - in total control of such a system.

    You piss him off or complain to one of his bureaucrats? Bam; a push of a button and you have no more money...until you fall on your knees and give up your first-born son or daughter or volunteer for "re-education".

    Or...you go to the store to buy anything. Clerk tells you, "Sorry, but you aren't authorized to buy those particular items. Can I interest you in something else?"

    Or...you go to the grocery store and they tell you that you're not authorized to buy food.

    Or...you go to a doctor or hospital or pharmacy, only to be told by the clerks that you aren't authorized whatever it is you are seeking.

    Or...you roll out onto the toll road only to be stopped at the first collection booth and denied access to travel on that road.

    Or...you pull into the gas station and the pump rejects your transaction.

    Or...you're not a registered democrat; you have no freedoms or options.

    Or....just use your imagination.

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