"All currencies rely on the underlying belief by people who use them -- that they have and will have value. So in that way, you could argue that all currencies are ethereal phenomena. MintChip, backed by hard currency held in trust, could gain wide acceptance on its applicability," Royal Canadian Mint CFP Marc Brule said in a May interview with Wired.
MintChip may not have all the answers, but it could be the next big step towards implementing a cashless society that doesn't rely on the auspices of a centralized management system.
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