Could we be just a few years from solving all security-related complications of cash systems today? Daryl de Jori, Head of New Technologies at EDAQS, a German-Austrian technology company, says that could very well function as case.

De Jori, a small business analyst and finance critic by background and renowned Hamburg based economy scientist, Reimund Homann,plus a small team of scientists, technicians, and developers, have spent the previous few years perfecting and testing the cash security system DICE, its first hybrid product that unifies artificial intelligence and the lifestyle, that they believe could prevent cash crimes, in addition to solving all security-related complications of cash systems today, including passports and terrorism.

The innovation offers the chance for global change that may solve countless conventional issues with one single system and allows central and national banks to supervise and analyze all cash circulation without interfering with the privacy of the citizen. It not only produces anti-counterfeit bills but provides for the first time in the annals of cash an insurmountable protection. Categorized as a semi-governmental project for the general public benefit and classified as a “Governmental Reformation Venture” (since an effective implementation could only be achieved through official ways sufficient reason for the support from governments), the technology is currently subject to negotiations with governments and national banks for a worldwide implementation of the system.

The development of the DICE (acronym: Dynamic Intelligent Currency Encryption) emerged from the unquestionable need for a economic climate that protects money while upholding the best level of security and privacy. Contingent identifiable banknotes, preferably with a custom-frequency and secure RFID or machine readable codes like Datamatrix, the DICE integrates reliable and innovative technologies that combine their advantages to incorporate them into an optimized security. Starting from the identifiable banknote that connects to an electronic security system to verify the banknote’s validity, a key feature is also the opportunity to devaluate banknotes that may have already been stolen from the DICE user or which are illegally circulating.

It’s the goal of EDAQS that the complete banking and retail sector and all entities with regular cash circulation will take part in the DICE system.Up to now, EDAQS has concentrated the majority of its resources on preventing cash crimes and forgery, but additionally to save lots of cash from vanishing since it is going on in Scandinavian countries. But thanks to the recent series of external appraisals, the DICE has been estimated at an averaged valuation of $5.6 billion 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 jointly dominate the global implementation of the innovative and futuristic banknote system. Within the planned spin-off, the new company will generate two strong market leaders with distinct brands, partners, operating characteristics and industry dynamics.

DICE combines several technologies and intelligent ways to solve almost all issues that governments claim to be the explanation of the planned abolition of cash. DICE protects the citizen, the retailers and even the banks. Also it gives cash a new and indisputable reason to call home on.

Among a range of new development models there are lots of advantages of DICE. Firstly, counterfeiting of banknotes is 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 can be less attractive and even with a limited usage of DICE, the risk of a worthless robbery will be higher than the best gain. DICE also combats crime and for that reason general cash-related crime will be reduced by almost a quarter based on the official crime statistics for Germany released by the police (5.96 million offenses in 2013). The incidental registration of the banknotes would also ensure it is easier for banks and companies to control cash as the complications of handling illicit money result in higher tax revenues.

Besides mapping out preventing cash crimes and forgery, EDAQS hopes to fight drug cartels and terror financing on a totally different level. The remote deactivation of banknotes opens up new effective tools in the fight against the financing of terrorism. From drug cartels to Mafia organizations, the ever-present chance for the money being devalued later and the potential of determining the final retailer scanned position makes cash uninteresting and risky. With a profound change for legal tenders and other securities where its use would seem sensible, DICE provides passive protection mechanisms that have a preventive effect on the users’ security without impairing their privacy and gathers valuable geographical data of cash circulation along the way. Such data could be used to analyze the financial stability of a country.

If current government trends continue, a cashless economy does seem on the rise. And while there are certainly positive outcomes that can be obtained by going cashless not all is rosy however. The darker aspect of a cashless society, is the one that few are debating or discussing, but is actually the most pivotal when it comes to social engineering and transforming communities and societies. You can find understandably concerns about privacy, particularly when payments are made through social networks and above all there is an incalculable cost to our humanity. We’d lose our freedom to create decisions. It is easy to imagine a totalitarian regime using these tools to great harm. In the digital age, cash is directly confronted by technological progress with crypto-currencies like Bitcoin and contact-less payment methods like Apple Pay, Google Wallet or QuickPay. However such technologies can be subject to monitoring and will be regulated in ways which could limit or even end its utility.

In his book “THE FINISH of Money”, Wired contributing editor David Wolman, explored the twilight of cash and its own replacement with a panoply of better means of exchange. For one thing, Wolman notes, that national identity is strongly linked with having a physical currency. Then there’s the best advantage of cash – its ability to enable off-the-books transactions. In a culture as paranoid about surveillance as our own, imagine the outcry if we were to go to means of exchange that were always traceable? The problem challenging arguments for a cashless society is that they’re rational, and our attachment to cash isn’t. A cashless society can be a society where there is absolutely no longer any anonymity.

Philosopher and economist Adam Smith observed that we are economic beings in the sense our essence as humans stems from our ability to make fair trades for the labor or our products. We make these transactions in the presence of the usually benevolent “invisible hand,” as Smith called it in his book “An Inquiry in to the Nature and Causes of the Wealth of Nations.” The invisible hand optimizes our total production, and, more often than not, fosters our freedom. A “visible hand” monitoring each and every transaction we make could possibly be one of the biggest – and least expected – threats to freedom we have ever encountered in human history.

In light of the dystopian outcomes in the evolution in the creation of a cashless society, DICE is billed at breaking the mold with regards to the protection of cash, because it not only improves cash circulation, but also the caliber of people’s life. The advantages of the DICE system can only just be positive.While it would obviously apply to the economy as a whole and to any place where money plays an important role, however a lot would also change for private individuals. The technology is so far without the competition and in the long term, the best point of arrival, of course, is that it’s unavoidable that banknotes become digital hybrids. Bitcoin Era Review is definitely a better option to a state-controlled digital cash system.

Ambitious as which may be, it is really just the end of the iceberg. Needless to say, society has been through times of innovation in monetary technology before. Even though cash has been fighting the digital tide for quite a while now with the necessity to get beyond cash having been recognized in a number of countries, there’s no escaping the truth that we will always have a dependence on cash. Cash continues to be king and will stay in circulation for generations to come – for consumers and businesses. Hence, it’s never too late for businesses to protect themselves by safeguarding cash as a target. Additionally, de Jori thinks that DICE can also revolutionize the planet of finance through an effective long-term protection strategy that maintains confidence in global currencies.