gobanknoteless George Oikonomidis

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  • 1. gobanknoteless Imagine:
  • 2. Europe (EC,EC, ECB…) decides: From Jan the 1st through Dec the 31st 2013, the 500 €, 200 €, 100 €, 50 €, 20€, 10€ and 5€ banknotes cease from circulating. Maybe a new 5 € coin is introduced.
  • 3. Then what?Thereon only credit or debitcards or internet or mobilebanking transactions are inuse, and the very small ones bycoins
  • 4. Results:1. Total income of each financial entity taxed. Aim for a real time taxation system.2. GDP of total new magnitude and increased state revenues. Full transparency of prices everywhere, additional increase in tax revenue
  • 5. direct effects(continued)3. Reduce tax rates - enhancedevelopment.4. Immediate – Now and not at …2020 - correction of currentcorrelation (160%!) between debtand GDP of Greece and the restsouthern MS that will stop theirframing as …PIIGS.
  • 6. Indirect effects (..far more important)1. No more money-related violent crime (passion and hatred will still go on!)2. No profit from drug dealing, human trafficking, gun smuggling, abductions extortion, bribing, or illegal immigration3. No more risk of robberies, burglaries thefts, kidnappings, etc., as well a bribery, corruption, blackmail, etc.
  • 7. Difference fromother proposals :it does not merely prohibit ordiscourage use of cash –apparently banknotes – intrade of a certain magnitude.It eliminates it!
  • 8. MATURITY:Now it is possible. M-pesa in Kenya,Paga in Nigeria, Google walletand a plenty of apps, show theway.Non immediately tangible andportable values’ (bonds, cadastre)systems are already used.
  • 9. The Europe caseEuropean Union surpasses anyother territory in terms of ICTinfrastructure, digital literacy, livingstandards, common sense foraction and innovative steps. Due toall these it is obviously in betterposition. Euro zone will additionallysolve at the most gentle andcivilized way the illegal immigrationproblem.
  • 10. use of coinsfor newspaper, 100%bread, Candle 90% 85,2% 91Stands, charity, etc 80% 70% 68,1% 69,1% 60% 52,0%The use of coins 50% 47,0% 40%retains the existing 30% 20%and well rooted 10% 11,5% 7,7%relationship of 4,1% 2,2% 0% 0,1% 0,3% 0,1% 1€ 5 € 10 € 50 € 100 € 500 € 1.00Christians with the €candle lit, and doesnot trigger any acc % sumjustified formal % of receiptsreaction
  • 11. OPPOSING:Organized crime.Tax fraudsters.Whoever used to live on bribery.
  • 12. worries /objectionsSurveillance and personal datconcerns is responded by the fact thablind digital signatures have quitefew years ago resolved the matter.Secrecy and safety of our passwordsalso widely affirmed and weaccepted.Elderly people already use ATMs anmobiles, unexpectedly well.
  • 13. Some numbersTotal Euro coin quantity sums 23,073M€ with the 5euro banknotessumming 7,700 M€ (in a 888,600 M€of total euro banknotes). This furthercorresponds to 103 € per person foreach one of the 300 millionseconomically active Euro zonecitizens, well beyondneeds, assuming a weekly “refill”.
  • 14. systemic remark:Does not affect the capitalist system.It can be applied in the framework of the existing system as is.It also adds exceptionally increased liquidity for banks !
  • 15. nature of theproposalThis proposal must be considered as a purely technical one and only as a tool that does not address the political side issues whatsoever.
  • 16. Physical / logicalexplanation:The information about the valueon each banknote designatesthe given fraction of the totalmoney as the property of thebearer.
  • 17. Now we have the possibility, (through ICT) to achieve THE change:Instead of having this informatioon paper that is handed from thpayer to the payee, REPLACE itwith the remote transfer of theinformation of ownershipbetween the accounts of thesetwo individuals.
  • 18. What to do: Enlighten them, but make it quick!we must persuade Europeangovernments at least to publiclydiscuss, study and eventuallyadopt the proposal NOW!Not after 20 or 30 years.
  • 19. communicationAll remarks and discussion to beposted at:gobanknoteless.wordpress.com
  • 20. You may say Im a dreamer,but…. ….am I the only one? Thank you all