Re: Have you all seen this?

"(formerly headed by Mark Carney, now Stephen Poloz)"  -- I meant to type.

On Mon, Mar 3, 2014 at 10:10 AM, Joseph Potvin <jpotvin@opman.ca> wrote:
> 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 15:13:39 UTC