Could we be just one or two years 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 that may 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, Bitcoin Evolution Review technicians, and developers, have spent the previous few years perfecting and testing the money security system DICE, its first hybrid product that unifies artificial intelligence and the lifestyle, which they believe could prevent cash crimes, in addition to solving all security-related complications of cash systems today, including passports and terrorism.
The innovation offers the opportunity for global change that will Bitcoin Evolution solve countless conventional problems with one single system and allows central and national banks to supervise and analyze all cash circulation without interfering with the privacy of the citizen. It not merely 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 public benefit and classified as a “Governmental Reformation Venture” (since an effective implementation could only be performed through official ways and with the support from governments), the technology is currently subject to negotiations with governments and national banks for a global implementation of the system.
The development of the DICE (acronym: Dynamic Intelligent Currency Encryption) emerged from the unquestionable dependence on a financial system that protects money while upholding the best 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. Starting from 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 already been stolen from the DICE user or which are illegally circulating.
the goal of EDAQS that the complete banking and retail sector and 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 happening 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 Series A financing, after undisclosed leading capital investors and EDAQS lobbyists showed interest to jointly dominate the global implementation of the innovative and futuristic banknote system. As part of the planned spin-off, the new company will generate two strong market leaders with distinct brands, partners, operating characteristics and industry dynamics.
DICE combines several technologies and intelligent ways 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. Also it gives cash a fresh and indisputable reason to call home on.
Among a variety of new development models there are plenty of benefits of DICE. Firstly, counterfeiting of banknotes will be a thing of the past sufficient reason for the counterfeited value being higher than the production costs, counterfeiters would naturally need to undergo immeasurable efforts. Second, robberies will become less attractive and also with a limited usage of DICE, the chance of a worthless robbery would be higher than the best 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 ensure it is easier for banks and companies to manage cash because the complications of handling illicit money bring about higher tax revenues.
Along with mapping out preventing 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 last 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 which have a preventive effect 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 analyze 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 which might be obtained by going cashless not all is rosy however. The darker aspect of a cashless society, is the one that few are debating or discussing, but is really the most pivotal in terms of social engineering and transforming communities and societies. You can find understandably concerns about privacy, particularly when payments are made through internet sites and above all there is an incalculable cost to your humanity. We would 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 can be subject to monitoring and may be regulated in ways which could limit or even end its utility.
In his book “The End 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 tied to having a physical currency. Then there’s the ultimate advantage of cash – its capability to enable off-the-books transactions. In a culture as paranoid about surveillance as our own, imagine the outcry if we were to move to means of exchange which were always traceable? The problem challenging arguments for a cashless society is that they are rational, and our attachment to cash is not. A cashless society can be a society where there is no longer any anonymity.
Philosopher and economist Adam Smith observed that we are all economic beings in the sense that our essence as humans stems from our capability to make fair trades for the labor or our products. We make these transactions in the presence of the usually benevolent “invisible hand,” as Smith called it in his book “An Inquiry in to the Nature and Causes of the Wealth of Nations.” The invisible hand optimizes our total production, and, by and large, fosters our freedom. A “visible hand” monitoring every single transaction we make could possibly 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 with regards to the protection of cash, since it not only improves cash circulation, but additionally the standard of people’s life. The advantages of the DICE system can only just be positive.While it would obviously apply to the economy all together and to anyplace where money plays an important role, however a whole lot would also change for private individuals. The technology is so far without any competition and in the long term, the best point of arrival, needless to say, is that it is unavoidable that banknotes become digital hybrids. That is definitely a better substitute for a state-controlled digital cash system.
Ambitious as that could be, it is really just the end of the iceberg. Of course, society has experienced times of innovation in monetary technology before. Even though cash has been fighting the digital tide for quite a while now with the need to get beyond cash having been recognized in a number of countries, there’s no escaping the truth that we will will 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 protect themselves by safeguarding cash as a target. Additionally, de Jori thinks that DICE may also revolutionize the world of finance via an effective long-term protection strategy that maintains confidence in global currencies.