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Re: Have you all seen this?

From: Joseph Potvin <jpotvin@opman.ca>
Date: Mon, 3 Mar 2014 10:10:19 -0500
Message-ID: <CAKcXiSpTNcNyJf+gLECYTBVB8ieUyjCcLoZBgVJ=19UbAEqAwg@mail.gmail.com>
To: David Nicol <davidnicol@gmail.com>
Cc: Web Payments CG <public-webpayments@w3.org>
RE: "The Royal Canadian Mint (the Canadian equivalent of the US's
Federal Reserve)"

Correction, No it's not at all.  The Mint is not the Bank of Canada.
http://www.mint.ca/store/mint/about-the-mint/corporate-information-1300004#.UxSaAtHNV0w

Their MintChip is a digital "coin-equivalent", based on a derivative
of Mondex technology under a single (UK) company's patents.
https://en.wikipedia.org/wiki/Mondex

 No country has even a rough equivalent of the US Fed, considering the
fully global "USD Zone". But to the extent the US Fed plays, in part,
a "national" central bank role, then that would be the Bank of Canada
(formerly headed by Mark Carney, no Stephen Poloz).

Joseph Potvin

On Mon, Mar 3, 2014 at 9:58 AM, David Nicol <davidnicol@gmail.com> wrote:
> On Sun, Mar 2, 2014 at 8:19 PM, Manu Sporny <msporny@digitalbazaar.com> wrote:
>> On 02/21/2014 03:38 PM, Reutzel, Bailey wrote:
>>> Also all these articles calling [mintchip] a (or lumping [mintchip] in with)
>>> cryptocurrency are not correct! It's not that, but still interesting
>>>  (enough)...
>
>
> It depends on how you define "cryptocurrency." From a journalistic
> point of view, the fact that the mintchip bearer device security uses
> cryptography ... well, there is that Greek prefix.
>
> Satoshi solved the DSP("double spending problem") with a decentralized
> public ledger. The Royal Canadian Mint (the Canadian equivalent of the
> US's Federal Reserve) solves the DSP by trusting the integrity of the
> perimeter of the bearer devices to not get compromised. Each mintchip
> has a smidge of non-volatile storage and some processing.There isn't
> supposed to be a way to read that storage aside from through the
> defined interface through the circuitry in there. All mintchip
> transactions are peer-to-peer between these devices, after a
> sooper-seekrit handshake.
>
Received on Monday, 3 March 2014 15:11:10 UTC

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