1. August 21, 2012

    MintChip is real, and it’s fabulous


    Back in April, the Royal Canadian Mint debuted MintChip, a new virtual currency. As a development phase technology, MintChip was made available exclusively to 500 participants of the MintChip Challenge, a software competition for innovative digital payment apps and proofs of concepts utilizing MintChip.

    The dev community was abuzz with excitement following the announcement. Within hours, MintChip surged to the most commented item on Hacker News, and in just four days, all 500 competition spots were filled up.

    The timing of the launch (around April Fools Day) and the $50,000 prize in Gold Wafers and Gold Maple Leaf Coins led some to believe that the whole thing was an elaborate hoax, but as you can see from the innovative apps that were developed as a result, the MintChip Challenge is anything but.

    An idea for every day of the year

    While programmers retreated to their lairs to hack, the Mint challenged the public to submit suggestions for how a digital currency like MintChip could be used in the ideas portion of the MintChip Challenge. In total, 365 ideas were entered, the top 10 of which will be selected by a panel of judges this month from the 25 most popular ideas as voted by the public.

    57 innovative digital payment apps

    After four months of hacking, developers emerged from their LED-lit caves and unveiled 57 apps that facilitate peer-to-peer (person-to-person) payments, business-to-consumer payments, and micropayments of less than $2.00. Every major platform was represented, with applications that run on Android, BlackBerry, iOS, Windows, and browsers on both desktop and mobile devices.

    Cast your votes for the Popular Choice Award

    We invite you to size up these trailblazing applications at MintChipChallenge.com, and vote for your favorites by September 12. Your vote will help determine the winner of the Popular Choice Award, who will take home 3 oz. in gold, equal to $5,100. 

    In total, the competition will award $52,700 in prizes across eight categories. Winners in the remaining categories will be selected by a judging panel of leaders from the tech, venture capital, media, and retail industries.

    The public voting period ends in one month. Check out the apps today!

    We invite you to join us on Facebook, follow @ChallengePost on Twitter, and use the hashtag #MintChip when you tweet. 

    By Megan

Sign up

Sign up for ChallengePost and be the first to hear about exciting new challenges.