The future Of Banknotes And Preventing A Cashless Economy
De Jori, a business analyzer and finance critic by background and renowned Hamburg based economy scientist, Reimund Homann, along with a small team of scientists, technicians, and developers, have spent the previous few years refining and testing the money security system CHOP, its first hybrid product that unifies artificial brains and the daily life, which believe could prevent cash offenses, in addition to resolving all security-related complications of cash systems today, including passports and terrorism.
The innovation offers the chance of global change that will solve countless conventional problems with a single system and allows central and national banks to monitor and analyze all cash circulation without interfering with the privacy of the person. It not only produces anti-counterfeit bills but offers up pocket option login 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 execution could only be achieved through official ways and with the support from governments), the technology is currently susceptible to discussions with governments and national banks for a global execution of the system.
The development of the CHOP (acronym: Dynamic Intelligent Currency Encryption) emerged from the unquestionable need for a financial system that protects money while upholding the highest level of security and privacy. It all depends well-known banknotes, preferably with a custom-frequency and secure RFID or machine legible codes like Datamatrix, the CHOP integrates reliable and innovative technologies that combine their advantages to add in them into an optimized security. Beginning from the well-known banknote that attaches to a digital security system to verify the banknote’s validity, a key feature is also the ability to devaluate banknotes that may have been thieved from a CHOP user or which are illegally becoming more common.
It is the goal of EDAQS that the whole banking and retail sector as well as all entities with regular cash circulation will participate in the CHOP system. So far, EDAQS has concentrated most of its resources on preventing cash offenses and forgery, but also to save cash from disappearing as it is going on in Scandinavian countries. But thanks to the recent series of external evaluations, the CHOP has been estimated at an averaged valuation of $5. 6 thousand and has 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 mutually lead the global execution of the innovative and futuristic banknote system. Within the planned spin-off, the new company will create two strong market leaders with distinct brands, partners, operating characteristics and industry character.
CHOP combines several technologies and intelligent techniques to solve almost all conditions that governments claim to trigger the planned abolition of cash. CHOP protects the person, the retailers and even the banks. And it gives cash a new and indisputable reason to live on.
Among a range of new development models there are many advantages of CHOP. Firstly, counterfeiting of banknotes will be a thing of the past and with the counterfeited value being higher than the production costs, counterfeiters would naturally have to undergo immeasurable efforts. Second, robberies will become less attractive and even with a limited use of CHOP, the risk of a worthless robber would be higher than the ultimate gain. CHOP also fights crime and as a result general cash-related crime will be reduced by almost a quarter on the basis of the official crime statistics for Germany released by the police (5. ninety six million crimes in 2013). The incidental registration of the banknotes would also make it easier for banks and companies to manage cash as the complications of handling illicit money result in higher tax revenues.