The document introduces the 'money pad,' a biometric system designed to securely carry digital cash as a replacement for traditional payment methods like credit cards and smart cards. It details the advantages and disadvantages of the money pad, including its high security and potential for e-banking transactions, while also noting issues such as the requirement for additional sensors and the risk of injury affecting fingerprint recognition. The conclusion emphasizes the need for features like instant fund clearing and secure transactions to ensure widespread acceptance of digital currency systems.

1. PRESENTED BY :
NAME : Smitakshi Sen
ROLL NO. : 1206232
BRANCH : I.T (B8)
SEMESTER : 1st (2012-13)

2. INTRODUCTION
 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.

5. DISADVANTAGES OF THE
PRESENT SYSTEM
CREDIT CARDS :
 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.
 Insecure transactions using fixed encryption.
 The card has to be renewed once it is expired.
SMART CARDS :
 Insecure transactions using fixed encryption.
 Risk of data loss due to chip failure.

6. NEW APPROACH
To overcome the 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”.
 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 atleast 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
it 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.

7. DESIGN
Process in request of Money Pad
New user
Request for
Money Pad
Create a
new account
Money Pad
is issued
Database
Server
Enter an e-book.
Creates the details of the new user and
his finger print record.

8. TRANSACTION USING MONEY
PAD
 Place your finger on the touch
sensor and then on the finger print
reader.
 Enter bank code and account
number to enter into e-bank
services.
 If a finger print match occurs the
reader knows that he is a 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 digi-cash present in the Money
Pad is e-mailed back to the
authorized account holder using the
user details in the Money Pad.
Money Pad
Finger print
reader
Database Server
E-book
Cannot access
cash is emailed to
owner’s account
General info of
users Info. collected is
passed to the
server for
verification
Authorized Unauthorized

9. ADVANTAGES
 Highly secure (deactivates on illegal use).
 No need to carry any physical wallet or cards.
 Can be used in remote area by using WPAN.
DISADVANTAGES
 Extra sensor is required.
 No chances of accessing account in emergency case also.
 Expensive.
 It uses finger print detection for security purpose.So if a
person’s finger gets accidentally cut or injured,the
detection technique will fail to match the patterns.

10. APPLICATIONS
 Applicable in e-banks and in any kind of e-transactions.
 To perform remote transaction like e-payments, digi-cash
transfer etc.
 The Money Pad provides a secure means to carry Digital
cash.
 It is applicable to any kinds of e-commerce transactions.
 The personal data stored in the money pad can be used to
fill order forms thus saving user’s time.
 It is useful in shopping,identification,telephone services
and licenses. It is applicable in daily life.

11. CONCLUSION
For a digital currency system to attain widespread
recognition the following three requirements are
necessary:
 Instant clearing of funds.
 Elimination of payment risk.
 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.
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 organize the finger print can be attached
at any place throughout the world.