The Canadian’s seem to be doing the same thing that the US has attempted for years, that is getting rid of the Canadian Penny. In the words of the Royal Canadian Mint “Today’s digital economy is changing faster than ever, and currency has to change too. It is, introducing MintChip, from the Royal Canadian Mint – the evolution of currency.” Just as with the American Penny, the Canadian Penny’s days are numbered (and with all do respect – so is the American Penny, presently it costs 16.7 cents to mint a Penny.) People, no matter which society it is, are partial to their currency and all of the variations of bills and coins.
The Evolution of Money – MintChip – is taking a drastic change, little by little. The next generation of currency will be digital, which is something that has been in the works for years. The ultimate goal is to go cashless; the first idea was to change everything to credit card, which was the next best thing to digital until credit cards went digital. Now the next generation of digital is a chip, as well as, an application program (which I mentioned in a previous RFID blog, ISIS.) ISIS is an application which is having its debut in Salt Lake City where your smartphone will possess your financial data so you can, for the sake of convenience, use your phone as a charge card.
MintChip uses a secure chip to hold monetary value and a secure protocol to transfer monetary value from one chip to another. MintChips can be stored in many ways: on MicroSD cards, on USB sticks, or remotely in the cloud, with no physical access. But as we all know, those who deal with any aspect of Information Technology, nothing is truly secure…look at the news and all of the hackers that have bilked and stolen Billions in dollars. So, what will be next? The nickel? The dime? Or, perhaps, everything will vanish from the face of the earth and just go digital. You thought that inflation was bad with the dollar? Just wait until everything goes digital, at that point inflation will cease and money will be siphoned out of your account. Then what will be the next generation? I personally believe it will be the introduction of the RFID chipping into the human body.
Not to change the subject, but who doesn’t love Disney? I always have, but I am concerned now-a-days with the advent of their billion-dollar project dubbed “NextGen”. Details of the plan emerged in February 2011 when Walt Disney Parks and Resorts Chairman Tom Staggs announced some major changes at an investors’ conference. Which indicates, on a small scale, how cities, states, countries, and potentially the world will transact business in the not too distant future. Many people seem to think this is great; however, if you have been following my posts you will note my disgust and disdain toward the abuse of privacy rights and the attack upon the individual’s desire to maintain some semblance of privacy.
One of the most obvious uses of the RFID system is ease of access to the parks. The system was tested at the fittingly future0themed Epcot in Walt Disney World, where guests willing to participate in the trial run were given a sticker embedded with the rice-sized transmitter to affix onto their regular souvenir ticket or annual pass. Many of the park ticket machines are being modified, or changed, over to a combination of RFID and fingerprint scanner. Disney World and Disneyland are both small cities with an average daily occupation of about 41,000 people. They are pretty efficiently run, which makes it quite appealing for the government to give it a try…but that is a little beyond the scope of this post. However, the utilization of the RFID and fingerprint scanning technology is quite on target as it is used to access your money so that you do not have to carry around cash, your wallet, or credit card(s) because your data is stored in that little grain of rice called an RFID and the use of your fingerprint is to use that biometric that is all your own (as a dose of security).
Even though it is a theme park and Walt Disney always tried to capture his vision of the future, I am a little dismayed at the lack of privacy, security, and sovereignty of the people. Unfortunately, each and every person just thinks it is the neatest thing since sliced bread and are just like sheep being lead to the slaughter. My primary purpose for this post is to bring to light the death of the dollar and the future economics of the world via the technology we find so fascinating and secondarily the wave of the future both politically and economically.
I first heard of this through the Dr. Katherine Albrecht show
(who is a big Privacy Advocate), more specifically the April 21st, 2012 show
. I hope there is a way to one day use the technology for what it was intended without the detrimental affects to people’s privacy. We shall see!
SEE ALSO: RFID Part 1, RFID Part 2, RFID Part 3, RFID Part 4, RFID Part 5