Someone posted that the Canadian government was launching digital currency and couldn't believe it ... so I googled it and, yes, sure enough, there it was .. http://www.thestar.com/business/article/1159513--royal-canadian-mint-to-create-digital-currency
Now, this would be a typical way a government could react so I took a couple of quotes from the article to "amplify" what they are REALLY saying
The difference with MintChip is it doesn’t plan to link to a person’s bank account or credit card information. And unlike BitCoin, a peer-to-peer hosted digital currency with a fluctuating value, MintChip is simply a new way to exchange Canadian dollars. Plus, it’s backed by the Canadian government.
should read "And unlike BitCoin, a peer-to-peer hosted digital currency with a fluctuating value and that has a self adjusting system to limit the production of new currency
, MintChip is simply a new way to exchange Canadian dollars. Plus, it’s backed by the Canadian government who can create as many of the currency it wants (just like it does now) and destroy the value of the currency
It’s still too early for specifics such as how the Mint will make a profit from this, how it will prevent hackers from stealing cash, whether the money is anyway traceable or who exactly will load a chip with money, but Brûlé said the response to the contest has been tremendous.
Ok, so they are proceeding to create money out of thin air and wonder "how the Mint will make a profit from this". Are they retarded? LOL