Currency Mints
A currency mint is capable of creating new units of a particular currency. A currency mint is closely related to the topic of alternative currencies, as previously mentioned in this blog post. In order for an alternative currency to enter the financial network, there must be a governing authority or algorithm that ensures that the generation of the currency is limited. If the generation of a currency is not limited in any way, hyperinflation of the currency becomes a risk. The most vital function of a currency mint is to carefully generate and feed currency into payment processors.
PaySwarm supports currency mints by allowing the currency mint to specify an alternative currency via an IRI on the network. The currency IRI is then used as the origin of currency across all PaySwarm systems. The currency mint can then deposit amounts of the alternative currency into accounts on any PaySwarm Authority through an externally defined process.
OpenTransact does not support currency mints. It does support alternative currencies, but does not specify how the alternative currency can be used across multiple payment processors and therefore only supports alternative currencies in a non-inter-operable way.