Could we be just a few years from solving all security-related complications of cash systems today? Daryl de Jori, Head of New Technologies at EDAQS, a German-Austrian technology company, says which could very well function as case.
De Jori, a business analyst and finance critic by background and renowned Hamburg based economy scientist, Reimund Homann,plus a small team of scientists, Bitcoin Evolution Scam technicians, and developers, have spent the previous few years perfecting and testing the cash security system DICE, its first hybrid product that unifies artificial intelligence and the daily life, that they believe could prevent cash crimes, as well as solving all security-related complications of cash systems today, including passports and terrorism.
The innovation offers the chance for global change that may solve countless conventional problems with one single system and allows central and national banks to supervise Bitcoin Evolution Review and analyze all cash circulation without interfering with the privacy of the citizen. It not only produces anti-counterfeit bills but provides for the first time in the history of cash an insurmountable protection. Categorized as a semi-governmental project for the general public benefit and classified as a “Governmental Reformation Venture” (since an effective implementation could only be achieved through official ways sufficient reason for the support from governments), the technology happens to be at the mercy of negotiations with governments and national banks for a worldwide implementation of the system.
The development of the DICE (acronym: Dynamic Intelligent Currency Encryption) emerged from the unquestionable dependence Bitcoin Evolution on a economic climate that protects money while upholding the highest level of security and privacy. Contingent identifiable banknotes, preferably with a custom-frequency and secure RFID or machine readable codes like Datamatrix, the DICE integrates reliable and innovative technologies that combine their advantages to incorporate them into an optimized security. Beginning with the identifiable banknote that connects to a digital security system to verify the banknote’s validity, a key feature is also the ability to devaluate banknotes that may have been stolen from a DICE user or which are illegally circulating.
It’s the goal of EDAQS that the complete banking and retail sector as well as all entities with regular cash circulation will participate in the DICE system.Up to now, EDAQS has concentrated most of its resources on preventing cash crimes and forgery, but also to save cash from vanishing since it is going on in Scandinavian countries. But because of the recent group of external appraisals, the DICE has been estimated at an averaged valuation of $5.6 billion and contains plans to skip a scheduled seeding process to immediately raise capital in a string A financing, after undisclosed leading capital investors and EDAQS lobbyists showed interest to jointly take over the global implementation of the innovative and futuristic banknote system. Within the planned spin-off, the brand new company will create two strong market leaders with distinct brands, partners, operating characteristics and industry dynamics.
combines several technologies and intelligent techniques to solve almost all problems that governments claim to be the explanation of the planned abolition of cash. DICE protects the citizen, the retailers and also the banks. And it gives cash a new and indisputable reason to live on.
Among a variety of new development models there are numerous advantages of DICE. Firstly, counterfeiting of banknotes will be a thing of the past and with the counterfeited value being higher than the production costs, counterfeiters would naturally have to undergo immeasurable efforts. Second, robberies will become less attractive and also with a limited use of DICE, the risk of a worthless robbery will be higher than the ultimate gain. DICE also combats crime and as a result general cash-related crime will undoubtedly be reduced by almost 25 % based on the official crime statistics for Germany released by the police (5.96 million offenses in 2013). The incidental registration of the banknotes would also ensure it is easier for banks and companies to control cash because the complications of handling illicit money result in higher tax revenues.
Along with mapping out the prevention of cash crimes and forgery, EDAQS hopes to fight drug cartels and terror financing on a totally different level. The remote deactivation of banknotes opens up new effective tools in the fight against the financing of terrorism. From drug cartels to Mafia organizations, the ever-present chance for the amount of money being devalued later and the potential of determining the final retailer scanned position makes cash uninteresting and risky. With a profound change for legal tenders and other securities where its use would make sense, DICE provides passive protection mechanisms which have a preventive influence on the users’ security without impairing their privacy and gathers valuable geographical data of cash circulation in the process. Such data could possibly be used to investigate the financial stability of a country.
If current government trends continue, a cashless economy does seem on the rise. And while you can find certainly positive outcomes that could be obtained by going cashless not all is rosy however. The darker facet of a cashless society, is one which few are debating or discussing, but is really the most pivotal with regards to social engineering and transforming communities and societies. There are understandably concerns about privacy, especially when payments are made through internet sites and above all there’s an incalculable cost to our humanity. We would lose our freedom to make decisions. You can easily imagine a totalitarian regime using these tools to great harm. In the digital age, cash is directly faced with technological progress with crypto-currencies like Bitcoin and contact-less payment methods like Apple Pay, Google Wallet or QuickPay. However such technologies can be subject to monitoring and can be regulated in ways that could limit or even end its utility.
In his book “THE FINISH of Money”, Wired contributing editor David Wolman, explored the twilight of cash and its replacement with a panoply of more efficient means of exchange. To begin with, Wolman notes, that national identity is strongly linked with having a physical currency. Then there’s the ultimate benefit of cash – its ability to enable off-the-books transactions. In a culture as paranoid about surveillance as our very own, imagine the outcry if we were to go to means of exchange that were always traceable? The problem with all of the arguments for a cashless society is that they are rational, and our attachment to cash isn’t. A cashless society can be a society where there is no longer any anonymity.
Philosopher and economist Adam Smith observed that people are economic beings in the sense that our essence as humans stems from our ability to make fair trades for our labor or our products. We make these transactions in the current presence of the usually benevolent “invisible hand,” as Smith called it in his book “An Inquiry in to the Nature and Factors behind the Wealth of Nations.” The invisible hand optimizes our total production, and, by and large, fosters our freedom. A “visible hand” monitoring each and every transaction we make could be one of the biggest – and least expected – threats to freedom we’ve ever encountered in history.
In light of the dystopian outcomes in the evolution in the creation of a cashless society, DICE is billed at breaking the mold in terms of the protection of cash, since it not merely improves cash circulation, but additionally the quality of people’s life. The benefits of the DICE system can only just be positive.Although it would obviously apply to the economy as a whole and to any place where money plays an important role, however a lot would also change for private individuals. The technology is indeed far without any competition and in the long run, the ultimate point of arrival, of course, is that it is unavoidable that banknotes become digital hybrids. That is definitely a better option to a state-controlled digital cash system.
Ambitious as that may be, it is really just the tip of the iceberg. Needless to say, society has been through times of innovation in monetary technology before. Even though cash has been fighting the digital tide for some time now with the need to get beyond cash having been recognized in a number of countries, there’s no escaping the fact that we will always have a need for cash. Cash continues to be king and will stay in circulation for generations ahead – for consumers and businesses. Hence, it’s never too late for businesses to safeguard themselves by safeguarding cash as a target. Additionally, de Jori thinks that DICE may also revolutionize the planet of finance via an effective long-term protection strategy that maintains confidence in global currencies.