Canadian MintChip is a Failure- Is Cashless Society Agenda Defeated?

What is MintChip?

The MintChip is a digital currency prototype for Canada (similar to Bitcoin) which involves converting physical fiat cash to electronic currency by loading chips up with money from bank accounts, stored, and spent in stores or online. Payments using the MintChip don’t require a bank. Value is recorded on chips within USB sticks or on MicroSD cards in smart phones, tablets or other devices. Value is transferred between chips.

It was announced around March of 2012 when the Royal Canadian Mint made a commercial challenging software programmers to develop an app for the MintChip. The commercial portrays the vision they wanted for Canada, which is a completely cashless digitized economy.

For verification and clarity of that vision David Everett, the British cryptographic expert hired years ago to work on the MintChip in a Toronto Star news article said he would look at MintChip like an alternative, and hopefully a replacement, for physical cash.

This is an attempt for government to have full control and surveillance of the nations currency. If Canada got converted into a strict cashless society and everyone only had digital currency, the government would be able to deduct taxes automatically, would know who spends money where and how much money each individual has just by being able to digitally track it much like debit cards, credit cards and bank accounts.

“The currency creation model is centralized: value is originally injected into the system by the Royal Canadian Mint and customers can purchase value to spend by going through trusted brokers. The system is designed to be able to force upgrades, giving the Mint the power to introduce onerous tracking features over time if it so desires.”
~ Vitalik Buteri- Bitcoin Advocate

The Royal Canadian MintChip Coming to a Halt. Has it been Defeated?

The Wall Street Journal on Saturday reported that, “The Royal Canadian Mint said … it’s halting development of its fledgling MintChip digital currency program and is now looking to sell the business.”

This is extremely surprising because in the month of Sept 2013, The Royal Canadian Mint announced it was going to start to begin testing its MintChip electronic payment system by the end of 2013, which was reported by the Financial Post. Here we are past the end of 2013 and now the Royal Canadian Mint is announcing that they are going to sell the currency program to the private sector. It appears that not enough people took an interest in it and it has become a failure but time will tell what happens with it in the future.

Why Did Extensions of the Government Try MintChip?

A lot of Canadians don’t realize it, but they are already living in half-way cashless society. With reports saying Canadians make 4 billion electronic transactions a year annually with the aid of Interac, debit cards and credit cards; and with Paypal surveys claiming half of Canadians are happy with digital forms of payment it’s no wonder why the government tried to take advantage of the opportunity to help convert Canada into a digitized economy. As the Royal Canadian Mint would put it “the evolution of currency”.

Digital Currency is Still On The Rise

Although MintChip is coming to an end, many other alternative digital forms of currencies are on the rise. There are still other apps in the private sector that allows one to use their smart phones and tablets to purchase things with digital dollars such as Square and things like Google Wallet (and many more). But what Google Wallet, Square and MintChip all had in common was they all used digital forms of centralized fiat currency.

One of the most famous alternative digital currencies is the cryptocurrency known as bitcoin. Bitcoin is a decentralized form of digital currency said to take power away from the private and centralized banks that control the nations currency through usury monetary mechanics and fractional reserve banking. The end goal is to put more power back into the people and the free market with less control to the government and banks.

Although a lot of aspects of bitcoin do sound fantastic there are others who say it would be better to go back to a gold or silver standard because that could limit the amount of money a bank can create and lend out (like it was with the goldsmiths), and also it is argued that if the economy crashes or global power outage happens then bitcoins would be essentially worthless.
A good debate between gold standard and bitcoin by gold standard advocate and bitcoin advocate can be seen by clicking HERE

Canadians using online banking and interac clearly seems they are accustomed and conditioned to the digitized economy and with things like digital currency exchanges happening all around the world of every second of the hour, of everyday of the year the cashless society seems inevitable. So is bitcoin the answer to decentralized form of inevitable currency that is said to take power away from centralized banks? By the sounds of it from face value it might be the answer.

We can see an attack on bitcoin by extensions of the Canadian government, such as from Jim Flaherty the Finance Minister categorizing bitcoins being able to be used as tools to launder terrorist money.

It is important to continually improve Canada’s regime to address emerging risks, including virtual currencies, such as Bitcoin, that threaten Canada’s international leadership in the fight against money laundering and terrorist financing,” said Flaherty in the budget document. ~ SOURCE

 

Aaron Russo, a documentary filmmaker claims he has spoken to Nick Rockefeller of the Notorious Rockefeller family (big oil, big pharma, big banker family). Aaron alleges that Nick told him the big banker elites envision a future of the people of the earth living in a 100% cashless society and everyone should have a chip implanted in them that stores their whole legal identity and stores their digital currency. This all done to be part of the biometric surveillance society. Sounds like something out of the twilight zone but with a little bit of research one can find many videos and articles that are perpetuating the idea of chip implantations trying to normalize it.

Bitcoins are becoming a step closer to the mainstream with the fairly new bitcoin ATM machine found in a coffee house in Vancouver, B.C Canada. It converts the virtual currency to conventional fiat cash, and vice versa.

The machine will be operated by the bitcoin exchange companies Bitcoiniacs and Robocoin, and will perform transactions after a palm and ID scan. So combining biometrics with digital forms currency like bitcoins still falls into the claimed visions of the Rockefellers.

Question everything.