The MintChip Challenge: Can cash be completely replaced?

A new challenge is calling developers to replace the current cash system with new digital form of cash. It's called MintChip. The idea is that currency needs to change with the digital economy than ever. I couldn't agree more.MintChip is nice compliment to mobile credit card payments and offers the same benefits of cash: it's a private, secure, instant form of payment. Even better it's digital! MintChip value can be moved and stored over email software applications and even by physically tapping devices together.Challenge winners receive about $50,000 CDN from the mint and promotional exposure. With the grand prize at $17,000 CDN, other Prizes for the best demonstration of the potential value of the MintChip...etc, technology will also be rewarded.MintChip will be providing participating developers with the tools they need to integrate their digitital payment applications to the Mint's technology. This includes a software development kit, two microSD MintChips and two remote MintChip accounts.Submitted apps can run on any of the following platforms: Android, BlackBerry, iOS, Windows or desktop & mobile browsers.Additionally developers and the public are encouraged to share information and ideas of how the digital currency can be used. The timeframe to share ideas is approximately 4 months.The submission period is from April 4th to August 1st and judging will begin August 15th 2012, 10:00am EDT.For more information on how to enter the challenge, visit the MintChip Challenge Website and create an account on MintChipChallenge.com