Canadian Mint Ready to Test its Own Digital Money Project

(Financial Post) As the government body responsible for the production of loonies, toonies, nickles and sundry “limited-edition” collector coins, the Royal Canadian Mint is hardly the first thing that comes to mind when you think of cutting-edge technology. But that may be about to change.

Sometime before the end of this year, software engineers at the 105-year-old Crown Corp. will begin pilot-testing a novel form of digital currency that so far has received little attention but which has the potential to revolutionize how we do business.

“Where we’re going is not a road that has been traveled,” said Marc Brûlé, head of the MintChip project and chief financial officer of the Mint. “It has its challenges, but there are lots of people who are encouraging us.”