Dear
Amitabh ,
You
may like my following blog
regards,
hemen
/ 0 - 98,67,55,08,08
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NETWORK OF
CURRENCY NOTES ?
While
inaugurating the International Conference on " Networking the Networks " on Nov 2 , our FM Shri Jaitleyji
said :
"
Tax evasion and money laundering will become extremely difficult in the next
1-2 years, with the global automatic exchange of information system coming into
effect on a real time basis "
To
speed up this process and make it truly automatic / real time , I suggest
resorting to the following technologies :
# Internet of Things ( IoT )
As each currency note of Rs 500 / 1000 , is getting printed , embed it with
microscopic
RFID chips
Besides communicating with each other , these chips will also transmit their
existence
location , through internet , to cloud-based servers of Income Tax Department
This will form a " NETWORK OF
CURRENCY NOTES ( NoC ) "
You may like to call this Internet of Currency ( IoC
) , a sub-set of IoT !
# Internet Protocol Address System ( IP V 6.0 )
Each Rs 500 / 1000 currency note must be assigned ( at the time of printing ) ,
its own
unique Internet Address , using IP V 6.0
This IP address should be linked with the unique Serial Number printed on each
note.
Since IP V 6.0 , will be capable of assigning " 2 * 10 to the power of 128 ", no of
IP
addresses , there is no danger of running out of addresses , even if we decide
to extend
this idea to Rs 100 currency notes !
This
reform will enable the Central Government / Income Tax Department , to :
*
Continuously trace the movement of each of these higher denomination currency
notes
*
Instantly locate any place ( using Google Map based GPS ) , where there is an
accumulation of more than Rs 1 Crore worth of
currency notes
Such accumulation will be made to appear as a TAG CLOUD on the web site of IT
Dept,
like thousands of balloons floating on a map of India , capable of being
drilled down to
within 1 Sq Meter !
On each balloon , will appear a number announcing , " Amount
of Cash here - Rs
" !
This will vastly simplify the task of Anti Corruption Dept / Enforcement Dept
etc
Of
course , my suggestions may become outdated with the arrival of mobile wallets
based CASHLESS SOCIETY , by 2030
In
the meantime , experts may want to opine whether my suggestions make sense ,
theoretically and practically ( if so , by when ? ) to tackle the menace of
black money generation
--------------------------------------------------------------------------------------------------
hemen
parekh
04
Nov 2015
B2BmessageBlaster
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