Canada launches a government-backed digital currency
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Regular Springwise readers may recall our coverage last year of Bitcoin, the open-source and peer-to-peer digital currency that operates without the involvement of any central authority or bank. Now, a new initiative recently proposed by the Royal Canadian Mint proposes to create the MintChip, a digital currency that's similar, but is backed by the Canadian government. Aiming to become “the digital equivalent of the coins we use every day,” in the Canadian Mint's own words, the MintChip will target micro- and nano-transactions conducted both online and offline, whether at the physical point of sale, on mobile devices, or among peers.…
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