I just read an article about virtual currency. So now I'm thinking huh?! As I read further into the article it is said that Canada developed a new virtual technology called the MintChip which is supported by the Canadian Government. Canada is trying to get rid of the use of physical currency such as pennies, quarters, and dollar bills for a few examples. The MintChip is operated based off of what is in your bank account. It uses a SD card, and has now opened an application development challenge to be designed for smartphones and ipads for example to support MintChip. More can be read from the article link posted below.

I think this would be beneficial overall. Maybe it will decrease the levels of robberies in stores and on the street such as purse thefts. If people are not carrying around physical currency they may be at a less risk of getting robbed. Their information would have to be secured if they do not want to be put at high risk.

http://www.popsci.com/technology/article/2012-04/canadian-mint-launches-its-own-virtual-cash-called-mintchip