Could we be just a few years away from solving all security-related complications of cash systems today? Daryl de Jori, Head of New Technologies at EDAQS, a German-Austrian Bitcoin Evolution Scam technology company, says which could very well function as case.
De Jori, a small business analyst and finance critic by background and renowned Hamburg based economy scientist, Reimund Homann,along with a small team of scientists, technicians, and developers, have spent the last few years perfecting and testing the cash security Bitcoin Evolution Review system DICE, its first hybrid product that unifies artificial intelligence and the lifestyle, 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 opportunity for global change that may solve countless conventional issues with one single system and allows central and national banks to supervise and analyze Bitcoin Evolution all cash circulation without interfering with the privacy of the citizen. It not merely produces anti-counterfeit bills but offers the first time in the annals of cash an insurmountable protection. Categorized as a semi-governmental project for the public benefit and classified as a “Governmental Reformation Venture” (since a highly effective implementation could only be performed through official ways and with the support from governments), the technology happens to be subject to 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 need for a financial system that protects money while upholding the highest degree 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 benefits to incorporate them into an optimized security. Beginning with the identifiable banknote that connects to an electronic security system to verify the banknote’s validity, a key feature is also the ability to devaluate banknotes that may have already been stolen from the DICE user or which are illegally circulating.
It is the goal of EDAQS that the whole banking and retail sector and also all entities with regular cash circulation will take part in the DICE system.Up to now, EDAQS has concentrated most of its resources on preventing cash crimes and forgery, but additionally to save lots of cash from vanishing since it is happening in Scandinavian countries. But thanks to 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 Series 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 generate two strong market leaders with distinct brands, partners, operating characteristics and industry dynamics.
DICE combines several technologies and intelligent techniques to solve almost all problems that governments claim to be the reason for the planned abolition of cash. DICE protects the citizen, the retailers and even the banks. And it gives cash a new and indisputable reason to live on.
Among a range of new development models there are lots of benefits of DICE. Firstly, counterfeiting of banknotes will be a thing of the past and with the counterfeited value being greater than the production costs, counterfeiters would naturally need to undergo immeasurable efforts. Second, robberies will become less attractive and also with a limited use of DICE, the chance of a worthless robbery will be higher than the ultimate gain. DICE also combats crime and for that reason general cash-related crime will undoubtedly be reduced by almost a quarter on the basis of the official crime statistics for Germany released by the authorities (5.96 million offenses in 2013). The incidental registration of the banknotes would also make it easier for banks and companies to manage cash because the complications of handling illicit money result in higher tax revenues.
As well as 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 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 along with other securities where its use would make sense, DICE provides passive protection mechanisms that have a preventive influence on the users’ security without impairing their privacy and gathers valuable geographical data of cash circulation along the way. Such data could possibly be used to investigate the financial stability of a country.
If current government trends continue, a cashless economy does seem increasing. And while you can find certainly positive outcomes that may be obtained by going cashless not all is rosy however. The darker aspect of a cashless society, is one which few are debating or discussing, but is actually the most pivotal in terms of social engineering and transforming communities and societies. There are understandably concerns about privacy, especially when payments are made through social networks and above all there’s an incalculable cost to our humanity. We’d lose our freedom to create decisions. You can easily imagine a totalitarian regime using these tools to great harm. In the digital age, cash is directly confronted by technological progress with crypto-currencies like Bitcoin and contact-less payment methods like Apple Pay, Google Wallet or QuickPay. However such technologies could be subject to monitoring and can be regulated in ways that could limit as well as end its utility.
In his book “THE FINISH of Money”, Wired contributing editor David Wolman, explored the twilight of cash and its own replacement with a panoply of better means of exchange. For one thing, Wolman notes, that national identity is strongly linked with having a physical currency. Then there’s the ultimate benefit of cash – its capability 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 which were always traceable? The problem challenging arguments for a cashless society is that they’re rational, and our attachment to cash isn’t. A cashless society is also 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 is due to 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 into the Nature and Factors behind the Wealth of Nations.” The invisible hand optimizes our total production, and, more often than not, 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 have 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 with regards to the protection of cash, since it not merely improves cash circulation, but also 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 all together 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, needless to say, is that it’s unavoidable that banknotes become digital hybrids. is definitely a better option to a state-controlled digital cash system.
Ambitious as that could be, it is really just the tip of the iceberg. Needless to say, society has experienced times of innovation in monetary technology before. Even though cash has been fighting the digital tide for some time now with the necessity to get beyond cash having been recognized in a number of countries, there’s no escaping the point that we will always have a dependence on 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 protect themselves by safeguarding cash as a target. Additionally, de Jori thinks that DICE can also revolutionize the planet of finance via an effective long-term protection strategy that maintains confidence in global currencies.