Moneypadppt 110917211442-phpapp02


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money pad-the future wallet

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Moneypadppt 110917211442-phpapp02

  2. 2. The 21st century will be paperless paper currency and checks are gradually being substituted by smartcards, digital cash and instant transfers of funds. The wallet of the future will hold less paper cash, coins and magnetic stripe cards. It will hold instead Money pad containing Digital cash and other financial information, updated – perhaps Automatically by a PDA With a satellite communication link.March 5, 2012 Sample footer 2
  3. 3. AGENDA  Money pad Comparison between smart card, credit card & money pad Design of money pad  Operation of money pad  Personal digital Assistance  Biometrics Technology  Finger Print Reader  Float, Fiat money, specie backed money  Advantages & disadvantages ApplicationsMarch 5, 2012 conclusion footer Sample 3
  4. 4.  Credit Card : Credit cards are payment devices that allow the consumer tomake purchases within guarantied limits as defined by the issuer of thecard.Dis-advantages : i. Instant clearing of fund is not possible. ii. User is always under the pressure of limits on iii. purchase defined by the issuer of the card and iv. also every transaction involves certain charges. v. Insecure transactions using fixed encryption. vi. The card has to be renewed once it is expired.March 5, 2012 Sample footer 4
  5. 5.  Smart cards : Common smart card chips typically holds about 8,000 bytesof information.Dis-advantages : Insecure transactions using fixed encryption. Risk of data loss due to chip failure. March 5, 2012 Sample footer 5
  6. 6. DESIGNOperations of money pad:  Design of the system :  Process in request of money pad. New user Enter an e-book Request for money pad Create new Creates the details of account the new user and his Database finger print record Server Money pad is issuedMarch 5, 2012 Sample footer 6
  7. 7. OPERATION OF MONEY PAD Transaction using money pad: A user wants to use the money pad he has to place his finger on the touch sensorand then place it in a finger print reader. The reader will askfor bank code of the database. Then he can enter into his e-bank, After the reader willaccess the finger print. General information of user Finger print Information collected in Reader passed To the server for verification. Database Server Money pad Unauthorize d Authorized E-book Cannot access cash is e- mail to owner’s account March 5, 2012 Sample footer 7
  8. 8. Technical implementation of money pad: The money pad uses the Biometric Technology as thetechnique with which the security is provided. BiometricTechnology are used to accurately identify and verify anindividuals identity. The accuracy of any biometric system is measured in two ways :  False Acceptable Rate – where an imposter is accepted as a match.  False Rejection Rate – where a legitimate match is denied access. March 5, 2012 Sample footer 8
  9. 9.  Short for personal digital assistant, a handheld device that combines computing, telephone/fax Internet and networking features. This means that they also incorporated handwriting recognition features. Some PDAs can also react to voice input by using voice recognition technologies.. PDAs are also called palmtops, hand-held computers and pocket computers.March 5, 2012 Sample footer 9
  10. 10.  Biometric Technology, Inc. staff has over 87 years of combined experience in the design and implementation of biometric systems and provides services to both users and vendors of biometric identification systems. Biometrics technologies measure a particular set of a persons vital statistics in order to determine identity. Types of Biometrics 1. Behavioral biometrics 2. Physical biometricsMarch 5, 2012 Sample footer 10
  11. 11.  Fingerprint recognition or fingerprint authentication refers to the automated method of verifying a match between two human fingerprints. Fingerprints are one of many forms of biometrics used to identify individuals and verify their identity. This article touches on two major classes of algorithms (minutia and pattern) and four sensor designs (optical, ultrasonic, passive capacitance, and active capacitance). 11
  12. 12.  float is duplicate money present in the banking system during the time between a deposit being made in the recipients account and the money being deducted from the senders account. It makes up the smallest part of the money supply. Float is also associated to the amount of currency available to trade. Countries can manipulate the worth of their currency by restricting or expanding the amount of float available to trade.March 5, 2012 Sample footer 12
  13. 13.  Fiat money is money that derives its value from government regulation or law. The term derives from the Latin fiat, meaning "let it be done" or "it shall be [money] Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves.March 5, 2012 Sample footer 13
  14. 14.  Specie backed money is money distributed, normally as paper money, that is assigned value based on valuable minerals tied to the paper money. The idea is that with specie backed money, though the paper itself holds no true value, it represents whatever mineral is held in reserve, historically gold and silver. Holders of the paper money could theoretically exchange their bills for the gold or silver that it represented.March 5, 2012 Sample footer 14
  15. 15. ADVANTAGES Highly secure No need to carry any physical wallet or cards. Can be used in remote area by using WPAN.DISADVANTAGE Extra sensor is required no chances of accessing account in emergency case also.March 5, 2012 Sample footer 15
  16. 16. Applications of money pad: Applicable in e-banks and in any kind of e-transactions The money pad device is capable of carrying digi-cash and it is useful to perform any kind of e-banking or any kind of e-transaction. Can be used to carry out remote transactions To perform remote transaction like e-payments, digi-cash transfer etc., Useful to carry Digital cash The Money pad provides a secure means to carry digi-cash. Utilization of personal data in filling order forms The personal data stored in the money pad can be used to fill order forms thus savings users time. Applicable in m-commerce transactions It is applicable to any kinds of ecommerce transactions.March 5, 2012 Sample footer 16
  17. 17.  The following three requirements are necessary: 1. Instant clearing of funds 2. Elimination of payment risk 3. Secure transactions using strong encryption In future when internet is going to capture the world there is no requirement of any card or pad just a small device which can recognize the finger print can be attached at any place throughout the world.March 5, 2012 Sample footer 17
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