The document provides an introduction to the concept of digital/electronic cash and cashless transactions. It discusses how physical currency and paper-based transactions are being replaced by digital forms of payment using technologies like smart cards, digital cash, and instant fund transfers. It introduces the concept of a "Money Pad" which uses biometric fingerprint recognition to provide secure access to a user's digital cash and financial information. The Money Pad would store this digital cash and data, and could be automatically updated via a PDA or satellite connection. It emphasizes the importance of protecting individual privacy and rights as these electronic payment systems develop.
A presentation for Professional Communication class in the freshman year of undergrad, Computer Science & Engineering at KIIT University, to test my public speaking skills. My professor appreciated it a lot and I scored the highest in class.
A presentation for Professional Communication class in the freshman year of undergrad, Computer Science & Engineering at KIIT University, to test my public speaking skills. My professor appreciated it a lot and I scored the highest in class.
High protection ATM system with fingerprint identification technologyAlfred Oboi
This project was carried out at the College of Engineering, Design, Art and Technology, Makerere university Kampala Uganda
The main objective of this project was to come up with a more secure ATM system that will reduce on the ATM fraud.
Technology that identifies you based on your physical or behavioral traits- for added security to confirm that you are who you claim to be.(this ppt is very dear to me as i have given a talk on this topic twice. this also fetched me and migmar first prize at deen dayal upadhyay college- converging vectors - an inter college presentation competition organized by arya bhata science forum)
High protection ATM system with fingerprint identification technologyAlfred Oboi
This project was carried out at the College of Engineering, Design, Art and Technology, Makerere university Kampala Uganda
The main objective of this project was to come up with a more secure ATM system that will reduce on the ATM fraud.
Technology that identifies you based on your physical or behavioral traits- for added security to confirm that you are who you claim to be.(this ppt is very dear to me as i have given a talk on this topic twice. this also fetched me and migmar first prize at deen dayal upadhyay college- converging vectors - an inter college presentation competition organized by arya bhata science forum)
Usage Of Dual Axis Solar Tracking System ,Advanced Sensor And Real Time Clo...Isra Abdul Razack
Usage Of Dual Axis Solar Tracking System ,Advanced Sensor And Real Time Clock based Intelligent System For Energy Harvesting
An electro mechanical device
orienting a solar photovoltaic panel in the direction of the sun. It may be
Single-axis
Dual-axis
Increasing by 30 to 60 percent by utilizing a
tracking system instead of a stationary array
A digital system to calculate sun radiation
Stepper motor and photo resistors to redirect the panel
Position angles in registers
Design and Construction of Automatic Dual-Axis Solar Tracking System Using Li...Mahfuza Mansura
Solar energy is most promising green energy resource.. This project was done to increase the power produced by solar PV Cells by developing a advance dual-axis solar tracking system.
With cashless society being the current hot topic .. Digital Wallet surely covers one of them ...Here is a description about what is it and how it works .. may aid you during your final year seminar .. Cheers !!
With cashless society being the current hot topic .. Digital Wallets surely is one of the means to achieve it. Here is a brief description of what is it and how it works ..
Types of ewallets and their issues & challengesnimbleappgenie
The emergence of eCommerce and the digital economy calls for new payment methods in the market. The online-only shift of some buyers has forced the digital ecosystem to migrate from cash payments to plastic cards, and now it is taking a leap towards contactless payments.
5 Ways Digital Currency is Revolutionizing the Financial World.docxSurendra Gusain
Digital currency is a term that is familiar to some people and unfamiliar to others. But if you aren’t aware of it, you must get familiar with it because it has the potential to change our view on money. The recent rise in Ethereum (ETH), Bitcoin (BTC), and various other cryptocurrencies that exist in digital format only, has led global national banks to research the working of these national digital currencies. So, in today’s blog, we will shed light on the topic “5 Ways Digital Currency is Revolutionizing the Financial World” So, without wasting further time let’s get started!!
B
e
n
D
ic
k
s
o
n
B
itcoin is on another rollercoaster ride.
Over the past few months, the
cryptocurrency’s value spiked from
$3,000 to over $13,000; at this writing, it stands
near $10,000.
Such circumstances encourage people to buy
bitcoins in the hope of coming out ahead. But
Bitcoin’s rising price also draws malicious
hackers who see an opportunity to steal the funds
of unwary users who don’t know the basics of
Bitcoin security. If you’re new to Bitcoin, these
tips will help you protect your digital fortune.
PROTECT YOUR ONLINE WALLET
The easiest way to get started with Bitcoin and
other popular cryptocurrencies is to sign up with
an online wallet such as Coinbase or Binance.
Online wallets hide many of Bitcoin’s technical
challenges, such as handling private keys and
addresses, so they’re an attractive option for
people who are less tech-savvy or new to Bitcoin.
Signing up for most online wallets takes no more
than a few minutes, and accessing your account
requires only a browser, username, and
password.
Online wallets, however, are not the safest place
to store your cryptocurrencies. Anyone with your
How to Keep Your Bitcoin
Safe
Ben Dickson is a
software engineer
who writes about
disruptive tech
trends, including
artificial intelligence,
VR and AR, the IoT,
and blockchain. Ben
also runs the blog
Tech Talks.
COMMENTARY
email and password can access and steal your
coins, and bad actors can accomplish this with
something as simple as a phishing email. Also,
unlike with traditional payment systems,
recovering lost bitcoins is virtually impossible.
Here are a few best practices that can improve
your wallet’s security.
Enable two-factor authentication (2FA):
Most online wallets support some form of two-
factor or multi-factor authentication. Enabling
2FA links your account to a phone, mobile app, or
physical dongle. If a malicious hacker obtains
your username and password, they’ll still need to
have that extra factor to access your account.
Don’t use your phone number for 2FA:
Most sites support several forms of two-factor
authentication, but not all 2FA methods are
equally secure. If you rely on SMS passcodes to
secure your account, crafty hackers will be able to
hijack your phone number and intercept your
2FA passcode. If you’re associating a phone
number with your account, it would be best to use
a separate, secret SIM card.
Use a separate email for your Bitcoin
wallet: Most of us have a primary account for
our daily communications—but we use the same
email address for our Facebook, Twitter, and
PayPal accounts. We share it with friends, family
members, and coworkers. They might share it
with other people, and eventually, a malicious
hacker might obtain it. If your online wallet is
tied to this email, the hacker has one of two
@ bendee983
B
e
n
D
ic
k
s
o
n
important pieces of information needed to access your wallet. Use a
separate email address f.
B
e
n
D
ic
k
s
o
n
B
itcoin is on another rollercoaster ride.
Over the past few months, the
cryptocurrency’s value spiked from
$3,000 to over $13,000; at this writing, it stands
near $10,000.
Such circumstances encourage people to buy
bitcoins in the hope of coming out ahead. But
Bitcoin’s rising price also draws malicious
hackers who see an opportunity to steal the funds
of unwary users who don’t know the basics of
Bitcoin security. If you’re new to Bitcoin, these
tips will help you protect your digital fortune.
PROTECT YOUR ONLINE WALLET
The easiest way to get started with Bitcoin and
other popular cryptocurrencies is to sign up with
an online wallet such as Coinbase or Binance.
Online wallets hide many of Bitcoin’s technical
challenges, such as handling private keys and
addresses, so they’re an attractive option for
people who are less tech-savvy or new to Bitcoin.
Signing up for most online wallets takes no more
than a few minutes, and accessing your account
requires only a browser, username, and
password.
Online wallets, however, are not the safest place
to store your cryptocurrencies. Anyone with your
How to Keep Your Bitcoin
Safe
Ben Dickson is a
software engineer
who writes about
disruptive tech
trends, including
artificial intelligence,
VR and AR, the IoT,
and blockchain. Ben
also runs the blog
Tech Talks.
COMMENTARY
email and password can access and steal your
coins, and bad actors can accomplish this with
something as simple as a phishing email. Also,
unlike with traditional payment systems,
recovering lost bitcoins is virtually impossible.
Here are a few best practices that can improve
your wallet’s security.
Enable two-factor authentication (2FA):
Most online wallets support some form of two-
factor or multi-factor authentication. Enabling
2FA links your account to a phone, mobile app, or
physical dongle. If a malicious hacker obtains
your username and password, they’ll still need to
have that extra factor to access your account.
Don’t use your phone number for 2FA:
Most sites support several forms of two-factor
authentication, but not all 2FA methods are
equally secure. If you rely on SMS passcodes to
secure your account, crafty hackers will be able to
hijack your phone number and intercept your
2FA passcode. If you’re associating a phone
number with your account, it would be best to use
a separate, secret SIM card.
Use a separate email for your Bitcoin
wallet: Most of us have a primary account for
our daily communications—but we use the same
email address for our Facebook, Twitter, and
PayPal accounts. We share it with friends, family
members, and coworkers. They might share it
with other people, and eventually, a malicious
hacker might obtain it. If your online wallet is
tied to this email, the hacker has one of two
@ bendee983
B
e
n
D
ic
k
s
o
n
important pieces of information needed to access your wallet. Use a
separate email address f.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
1. 1
Chapter 1
INTRODUCTION
The 21st century will not be "cashless", as many now predict. However, it does seem clear that the
currency of the 21st century will be "paperless". Paper currency and checks are gradually being
substituted by smartcards, digital cash and instant transfers of funds. The large paper bureaucracy
of banks is quickly becoming redundant, burdensome, and even out of date. The evolution in digital
money is happening so fast that banks cannot adopt quickly enough and will eventually collapse
like top-heavy giants, blown over by the winds of financial change.
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 .As the new technologies develop into
new ways of making payment, one concern naturally arises. There is nothing inherent in the
technology that makes it less protective of privacy and individual rights. Advancement’s like
Biometrics Technology has made individual privacy even more secure. As developments in
electronic money gather pace, protection of individual rights must be kept in focus. Because the
record of most governments so far in these early stages of electronic commerce has been seen by
many to be confrontational and not protective of individual rights, it is likely that the preservation
of these rights is one reason that private currencies are likely to emerge on the Internet and to
eventually play an important role in global commerce.
In order to protect the rights and properties of each individual we thought of providing a security
system, which every human being can understand and feel free to use. Human beings feel secure
when they have their own security arrangements to protect their rights and as well as wealth.
Keeping this point of view in mind the Biometrics Technology is used to develop an e-cash
handling system, which is similar to well-known credit cards and smartcards. The e-cash handling
system is a device that facilitates secure currency transactions. We call it as Money Pad which
recognizes Finger Prints of the user and decides whether the user is an authorized person or not.
2. 2
Every time the user wants to access the Money Pad he has to make an impression of his finger,
which will be sensed and matched with the one in the hard disk
Fig 1.1: Money Pad
If the finger print matches with the user’s he will be allowed to access and use the Pad otherwise
the Money Pad is not accessible.
3. 3
Chapter 2
KEYWORDS
2.1 MONEY PAD
A form of credit card or smart card similar to floppy disk, which is introduced to provide, secure
e-cash transactions.
2.2 Digital or Electronic Cash
These terms are also used interchangeably, and they refer to any of the various methods that allow
a person to purchase goods or services by transmitting a number from one computer to another.
The numbers are issued by a bank and represent sums of real money. Digital cash is anonymous
and reusable.
2.3 Personal Digital Assistance
A PDA, sometimes referred to as a palm-top computer is smaller than a laptop computer and does
not have as much computing power. Used to send email via a wireless modem, write documents
in a text editor, perform calculations in a spreadsheet, store names and addresses, and perform
other common business and personal tasks.
2.4 Biometrics Technology
Technology used to accurately identify and verify an individual’s identity.
Biometric identifiers are the distinctive, measurable characteristics used to label and describe
individuals. Biometric identifiers are often categorized as physiological versus behavioral
characteristics. Physiological characteristics are related to the shape of the body. Examples
include, but are not limited to fingerprint, palm veins, face recognition, DNA, palm print, hand
geometry, iris recognition, retina and odor/scent. Behavioral characteristics are related to the
pattern of behavior of a person, including but not limited to typing rhythm, gait, and voice. Some
researchers have coined the term behaviometrics to describe the latter class of biometrics.
4. 4
More traditional means of access control include token-based identification systems, such as
a license or passport, and knowledge-based identification systems, such as a password or personal
identification number. Since biometric identifiers are unique to individuals, they are more reliable
in verifying identity than token and knowledge-based methods; however, the collection of
biometric identifiers raises privacy concerns about the ultimate use of this information.
2.5 Finger Print Reader
A machine with read/write head capable of reading the information stored in the Money Pad.
Fig 2.1: Finger Print Reader
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
2.6 Float
The transaction in terms of digi-cash, which takes zero-sum gain, is called float.
5. 5
2.7 Fiat Money
Fiat money has been defined variously as:
Any money declared by a government to be legal tender.
State-issued money which is neither convertible by law to any other thing, nor fixed in value
in terms of any objective standard.
Intrinsically valueless money used as money because of government decree.
2.8 Specie-Backed
Coined money.
2.9 Legitimate
Law full
6. 6
Chapter 3
FORMS OF MONEY
3.1 HAND CASH
The amount of money in the form of cash that a company has after it has paid all its costs. Written
at the top of the assets side of a balance sheet to show the amount of money held by a company in
the form of notes and coins.
.
Fig 3.1: Hand Cash
7. 7
If someone is paid cash in hand, they are paid in notes and coins so there is no written record of
the payment.
3.2 E-CASH
E-cash represent different types of products. This section explores the different types of e-cash
product and how each function.
Stored electronically , used to make online electronic payments
Similar to traditional bank accounts
Used with other payment technologies (digital wallets)
Alleviates those with no credit cards to shop online
Merchants accepting digital cash payments avoid credit card transaction fees
E-cash technologies, Inc. is a secure digital cash provider that allows you to withdraw funds
from your traditional bank account.
8. 8
Chapter 4
E-WALLET
Digital wallet allows user to make electronics commerce transactions quickly and securely.
A digital cash wallet functions much like a physical wallet. The digital wallet was first
conceived as a method of storing various forms of electronic money, but with little
popularity of such e-cash services, the digital wallet has evolved into a service that provide
internet users with a convenient way to store and use online shopping information.
The term “digital wallet” is also increasingly being used to describe mobile phones,
especially smart phones, that stores an individual’s credentials and utilize wireless
technologies such as near field communication to carry out financial transactions.
Keep track of your billing and shipping information so that it can be entered with one click
at participating sites.
Store e-checks e-cash and credit card information.
4.1 CREDIT CARD COMPANIES OFFER A VARITY OF E-WALLETS
Visa e-wallets
MBNA e-wallets allows one click shopping at member sites
Entrypoint.com offers a personalized desktop toolbar that includes an e-wallet.
A group of e-wallet vendors have standardized technology with Electronic Commerce Modeling
Language
Context independent knowledge
Name, E-mail address, context independent preferences
Context dependent knowledge
“When driving I don’t want to receive instant message”
9. 9
Service invocation rules
Automated services identification and access
Map contextual attributes onto different resources
Privacy rules
Access control rules
“Only my classmates can see my location”
Obfuscation rules
“My classmate can only see the building I am in but not the actual room”.
Fig 4.1: Money Pad
10. 10
Chapter 5
TECHNICAL DETAILS OF PAPER
5.1 Basic of the Present System
Presently due to the usage of computers in almost all the fields the demand for the utilization of
Electronic Money have been increased. Payments made today in nearly all of the deposit currencies
in the world's banking systems are handled electronically through a series of interbank computer
networks. Credit cards and smartcards are widely used to enter into these interbank computer
networks in order to perform transactions. These are the popular medium widely existing as a
recent medium of currency in the e-cash scenario. The mode of usage and the security provided
by these currency mediums are as follows.
Fig 5.1: Interbank Computer Networks
11. 11
Fig 5.1.2: Present Banking System
5.2 Credit Cards
Credit cards are payment devices that allow the consumer to make purchases within certain
guaranteed limits as defined by the issuer of the card. To use a credit card in most cases it is
sufficient to present the merchant with the card number and the cardholder's name and expiration
date of the card. These data can be conveniently transmitted over the Internet. Furthermore, credit
cards process funds by electronic means. The user has to swap the card in the card reader machine
then the machine asks for authentication information like secret password etc. Later the user is
allowed to perform the transaction. These credit cards have several disadvantages like,
Disadvantage:-
Instant clearing of funds is not possible.
User is always under the pressure of limits on purchase defined by the issuer of the card
and also every transaction involves certain charges.
12. 12
Insecure transactions using fixed encryption.
The card has to be renewed once it
Fig 5.2.1: Various Credit Cards
13. 13
Fig 5.2.2: An example of street markets accepting credit cards
Credit cards are issued after an account has been approved by the credit provider, after which card
holders can use it to make purchases at merchants accepting that card .When a purchase is made,
the credit card user agrees to pay the card issuer.
Fig 5.2.3: Credit cards
14. 14
The card holder indicates his/her consent to pay, by signing a receipt with a record of the card
details and indicating the amount to be paid or by entering a Personal identification number (PIN).
Also, many merchants now accept verbal authorizations via telephone and electronic authorization
using the Internet, known as a 'Card/Cardholder Not Present' (CNP) transaction.
5.3 SMARTCARDS
A smartcard resembles a credit card except that it has a microchip embedded within it, which
allows the smartcard to store information and sometimes to even perform simple calculations.
Common smartcard chips typically holds about 8,000 bytes (characters) of information, which
enables the smartcard to perform a variety of functions such as identification, storing bank account
information and holding digital cash. Payment information in the form of currency value is stored
on this chip and can be retrieved with specially designed card readers.
Disadvantages:
Insecure transactions using fixed encryption.
Risk of data loss due to chip failure.
Fig 5.3.1: Smart Card Application
15. 15
Fig 5.3.2: Smart Cards IC Chip Diagram.
5.4 DEBIT CARDS
A debit card (also known as a bank card or check card) is a plastic card that provides the cardholder
electronic access to his or her bank account at a financial institution. Some cards have a stored
value with which a payment is made, while most relay a message to the cardholder's bank to
withdraw funds from a designated account in favor of the payee's designated bank account. The
card can be used as an alternative payment method to cash when making purchases. In some cases,
the primary account number is assigned exclusively for use on the Internet and there is no physical
card.
The use of debit cards has become widespread in many countries and has overtaken cheque and in
some instances cash transaction by volume Like Credit cards, debit cards are used widely for
telephone and internet purchases.
5.4.1 TYPES OF DEBIT CARDS
An Example of the front of a typical debit card:
Issuing bank logo
16. 16
EMV chip
Hologram
Card number
Card brand logo
Expiry date
Cardholder’s name
An example of the reverse side of a typical debit card:
Magnetic stripe
Signature strip
Card security code
Fig 5.4.1: Debit Card
17. 17
New Approach
As this is an era of internet everything is getting online like shopping, business, banking etc. In the
recent trend even money is available online at any time in the form of digi-cash or cyber cash etc.
These are the recent medium of exchange, which are necessary for the existence of e-banking. As
in future the world is going to be paper less cash the existence of e-cash will lead e-banking. In
future internet is going to capture the whole world and the private currency will become the media
of exchange in e-banks replacing the government currency. Keeping this point of view in mind
and to overcome the above drawbacks of credit cards and smart cards here we present a medium
of exchange to carry digital cash wherever man wants, which we name as “Money Pad”.
Fig 5.4.2: How to Work Money Pad
18. 18
Money Pad
Money pad is one such medium of exchange, which aims to provide secure means of currency
exchange. It’s a means that carries digital cash, as paper cash is going to extinct. “In order to use
this money pad it is necessary to have at least one e-bank in every city”. Money pad is a biometric
system similar to a credit card or a smart card just like a floppy disk. It consists of a touch sensor
and magnetic disk as its peripherals. Touch sensor is used to record the fingerprint of the user.
Magnetic disk, which has the read and write permission is used to hold the authentication details
of the user, bank code as well as digi-cash. The bank code and account number of the owner of
this money pad is present on the label.
19. 19
Chapter 6
Operation of Money Pad
New User
When a user wishes to have a Money Pad, he is supposed to visit a nearby bank which has a e-
bank facility. It is necessary for the new user to create an account with some minimum balance.
The authentication details along with his fingerprint is recorded and stored in the data base server.
The user is provided with a account number and bank code along with his Money Pad. The Money
Pad consists of stored information like account number, bank code (from where he has purchased
this money pad) and his fingerprint.
Design of System
Process in request of money pad
Fig 6.1: Process of Issuing Money Pad
New
user
Request
for money
pad
Create for
new
account
Money pad is
issued
Database
server
Enter an e-book
Creates the details
of the new user and
his finger print
record
20. 20
Chapter 7
WHY USE MONEY PAD?
Money Pad
Money Pad is a method developed by Tobias Wong for binding bills (usually of one or two dollar
denomination) so that they can be easily carried around, and torn off the pad whenever needed for
payment.
Another type of Money Pad is a futuristic wallet that operates like a credit card or smartcard,
automatically verifying the user's identity before issuing cash debits."Money in the 21st century
will surely prove to be as different from the money of the current century as our money is from
that of the previous century.
Just as fiat money replaced specie-backed paper currencies, electronically initiated debits and
credits will become the dominant payment modes, creating the potential for private money to
compete with government-issued currencies." Just as everything is getting under the shadow of
"e" today we have paper currency being replaced by electronic money or e-cash.
Hardly a day goes by without some mention in the financial press of new developments in
"electronic money." In the emerging field of electronic commerce, novel buzzwords like
smartcards, online banking, digital cash, and electronic checks are being used to discuss money.
But how are these brand-new forms of payment secure? And most importantly, which of these
emerging secure electronic money technologies will survive into the next century?
7.1 Instant clearing of funds
The instant clearing of funds means the end of 'float', which is the time spent waiting for a fund
transfer to clear. Payments can be instantly made as man himself carries digital - cash with him.
There is no need for any intermediate party to clear the funds.
7.2 Avoids the insecure way of carrying money
21. 21
The present trend is full of theft and robbery. Man is in fear while he is carrying a huge amount
from place to place. The medium of exchange that is introduced (Money Pad) eliminates this fear
since man need not carry any hard cash as it is stored in the form of digital money. In case he loses
the Money Pad the provision can be made such that the lost cash can be recurred into his own
account by e-mail facility.
7.3 Provides strong security
As we know everybody has a different fingerprint it is a rare case to have two persons with same
fingerprint. Taking this into consideration Money Pad uses Biometric Technology to provide
strong security.
7.4 Can be meet by a common man
Since credit card and smart card require the facility that a minimum deposit should be present
which is very high to be meet by a common man. Whereas Money Pad doesn’t require any
minimum high deposit but it requires a small amount which can be meet by a common man.
7.5 Avoids the nuisance of renewing
Money Pad once issued is permanent, as it doesn’t require any kind of renovation.
22. 22
Chapter 8
TRANSACTION USING MONEY PAD
Whenever a user wants to use the Money Pad he has to place his finger on the touch sensor and
then place it in a finger print reader. The reader will ask for bank code so that he can enter into his
e-bank, then his account number so that he can enter into his account. After this the reader will
access the fingerprint and matches with that present on the Money Pad as well as present in the
data base server
Fig 8.1: Transaction of money pad
Money
pad
Finger
print
reader
Database
server
Info . collected in passed
to the server for
verification
E-
boo
k
Cannot access cash is emailed
to owner’s account
Unauthorized
Authorized
23. 23
If a match occurs the reader knows that he is an authorized user and allows for further transactions.
If not then the reader comes to know that the user is unauthorized and a provision can be made so
that the digital cash present in the Money Pad is e-mailed back to the authorized account holder
using the user details present in the Money Pad. As the Money Pad has read and write facility it is
used to down load digital-cash, carry on transaction and store the balance.
24. 24
Chapter 9
TECHNICAL IMPLEMENTATION
The Money Pad uses the Biometric Technology as the technique with which the security is
provided. Biometric Technology are used to accurately identify and verify an individual’s identity.
This involves identifying his physiological and behavioral characteristics. Biometrics in general
refers to the study of biological characteristics. With reference to computer security, it refers to
authentication techniques using biological characteristics that are measurable or identifiable and
unique to an individual.
Fig 9.1: Finger Print Reader
25. 25
The accuracy of any biometric system is measured in two ways:
False Acceptance Rate – Where an impostor is accepted as a match.
False Rejection Rate – where a legitimate match is denied access.
Fingerprint verification is one such biometric system, which authenticates weather the user is a
authorized person or not. It involves the user placing his finger over a glass plate, which resides
over a high-resolution change coupled cameras. The image captured is compared to that in the
systems database and decides the user authentication. A finger print reader can be used for this
purpose.
26. 26
Chapter 10
FIELDS OF APPLICATION
10.1 Applicable in e-banks and in any kind of e-transactions
The money pad device is capable of carrying digital-cash and hence it is useful to
Perform any kind of e-banking or any kind of e-transaction.
10.2 Can be used to carry out remote transactions
As digital-cash can be carried in Money Pad it is useful to perform remote
Transaction like e-payments, dig-cash transfer etc.
10.3 Useful to carry Digital cash
Since in future paper cash is going to extinct, man needs a secure means to
Carry digital-cash. As Money Pad provides a secure means to carry digital-cash it will be
very needful in future.
10.4 Utilization of personal data in filling order forms
The personal data stored in the Money Pad can be used to fill order forms
Thus saving users time.
10.5 Applicable in m-commerce transactions
Since digital-cash is carried everywhere it is applicable to any kind of m commerce
Transactions.
10.6 Applicable in daily life
As it is useful in shopping, identification, telephone services and licenses it is
Applicable in daily life also.
27. 27
Chapter 11
Advantages of Money Pad
Increase security - Provide a convenient and low-cost additional tier of security.
Reduce fraud by employing hard-to-forge technologies and materials. For e.g.Minimise the
opportunity for ID fraud, buddy punching.
Eliminate problems caused by lost IDs or forgotten passwords by using physiological
attributes. For e.g. prevent unauthorized use of lost, stolen or "borrowed" ID cards.
Reduce password administration costs.
Replace hard-to-remember passwords which may be shared or observed.
Integrate a wide range of biometric solutions and technologies, customer applications and
databases into a robust and scalable control solution for facility and network access
Make it possible, automatically, to know WHO did WHAT, WHERE and WHEN!
Offer significant cost savings or increasing ROI in areas such as Loss Prevention or Time
& Attendance.
Unequivocally link an individual to a transaction or event.
28. 28
Chapter 11
FUTURE SCOPE
The wallet of future will hold paperless cash, coins and magnetic strip cards. It will hold Instead
money pad containing digital cash and other financial information. Updated perhaps automatically
by a PDA with satellite communication link.
1. Instant clearing of funds
2. Elimination of payment risk
3. Secure transaction using strong encryption
29. 29
CONCLUSION
For a digital currency system to attain widespread recognition and use the, Following three
requirements are necessary
1. Instant clearing of funds
2. Elimination of payment risk
3. Secure transactions using strong encryption
Since the Money Pad aims to satisfy the above conditions there is no doubt that in near future it
will be widely recommended for use. Once the MoneyPad is implemented it has a wide scope. Though at
present we may use finger print reader to access the digi-cash in the near future the device can be
automated into Mobile phone, Watches, Hand held devises, as well as WAP devices. 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.
Thus requiring no device to carry money, just a man is required to access digital-cash and proving
Man as Money.
At last since Thumb Impression is going to provide a strong base for security in the future we can
predict that History repeats.