Royal Canadian Mint Invites iOS Developers to Join the MintChip Challenge for $50,000

The Royal Canadian Mint sent us an email about their new MintChip Challenge, where it is asking developers (including iOS) to create an innovate digital payment app using MintChip, their R&D phase technology. The plan is to have one lucky developer create a digital payment solution, and if chosen a prize of $50,000 in gold will be awarded plus promotional exposure:

The Mint will provide participating developers with a software developement kit (SDK), two microSD MintChips, and two remote MintChip accounts they can use to integrate the Mint’s technology with their digital payment applications.

The public and developers have approximately four months to share ideas and build their submissions. A panel of distinguished judges from the tech, venture capital, media, and retailer industries will select winners, and the general public will vote to identify a “Popular Choice” winner.

MintChip is described as ‘the evolution of currency’ and is:

a secure chip to hold electronic value and a secure protocol to transfer electronic value from one chip to another.

Sounds like a pretty cool contest–check out the MintChip video here. You can learn more about it here: http://mintchipchallenge.com/

Contest entries must be submitted by July 18, 2012. Good luck!