MONEY MAKER the Royal Canadian Mint is running a competition to give software developers a cool $50,000 in gold bullion.
The mint is offering the gold to develoopers prepared to create a digital payment system that is based on Mintchip, a "development phase technology" reserved for use in this competition.
"Developers and the public are also encouraged to share ideas for how a digital currency can be used," says the mint's announcement.
It continues, "Winners will receive approximately $50,000 in gold bullion from the Mint as well as promotional exposure. Prizes will be awarded for the apps that best demonstrate the potential value of the Mintchip technology and have the greatest potential impact on digital payment technology."
Developers, or anyone that just likes gold, can submit applications software based on any of the desktop and mobile operating systems including Windows, IOS, Android, and Blackberry. Once they register for entry developers get a software developer kit, MicroSD Mintchips and some remote accounts that they can use to link their applications to the mint's own technology.
There is a deadline in four months for entries and winners will be announced in late September. The top prize is 10oz of gold, or around $17,000, and the other prizes scale down accordingly.
Ideas are already being shared on the competition's Ideas web pages, and most suggest the use of the technology as an alternative to other more established ways of transferring money, playing online poker, and for contributing to organisations. µ