The Mint is offering a prize of $50,000 in gold to the developer who comes up with the best technology to support its new digital currency, the MintChip.
– Royal Canadian Mint to create digital currency (The Star, April 11, 2012):
The Royal Canadian Mint wants to get rid of pocket change — and it’s enlisting hacker-types for help.
Less than a week after the government announced the penny’s impending death, the Mint quietly unveiled its digital currency called MintChip.
Still in the research and development phase, MintChip will ultimately let people pay each other directly using smartphones, USB sticks, computers, tablets and clouds. The digital currency will be anonymous and good for small transactions — just like cash, the Mint says.
To make sure its technology meets the gold standard in a world where digital transactions are gaining steam, the Mint is holding a contest for software developers to create applications using the MintChip.
The old-fashioned prize? Solid gold wafers and coins worth about $50,000.