The Royal Canadian Mint has selected The Boston Consulting Group (BCG), the world’s leading advisor on business strategy, to support the divestiture of its MintChip digital currency product.
According to a news release, the selection of BCG was the result of an open, competitive procurement process.
“The Mint’s research and development efforts on MintChip have reached a stage where the project is ready to move to its natural next step of commercialization in the private sector,” said Bob Zintel, Director, MintChip. “We believe BCG has the experience and expertise to help us maximize the return on investment in this program.”
Over the next several months BCG will support the Mint in packaging the MintChip assets, and in determining the best approach to identifying and engaging interested parties.
As part of the Mint’s research and development efforts, MintChip can be characterized as an evolution of cash, with the benefits of being digital, the release added.
Just like cash, MintChip is founded on a direct asset transfer model that moves value between trusted entities without the involvement of any intermediary. The transactions occur without the need for personal identification (thereby maintaining the user’s privacy) and without the burden of third party processing. MintChip is based on advanced technology and a trusted protocol to allow for secure and easy value transfers between parties.
See the next issue of Canadian Coin News for full details.