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.

(MORE: Top 10 Things You Didn’t Know About Money)

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…

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