Dear Dr Marinov,
Many thanks for your prompt response
Reserve Bank of India had confirmed that it has stopped printing Rs 2,000 paper currency notes since April 2019 ( - it was introduced in Nov 2016 and replaced Rs 1,000 notes )
During these past 3 years, RBI has printed a total of 3,700 Million notes of Rs 2,000
If these were to be replaced with RFID embedded notes , would that amount to a “ commercial opportunity “ ( for developing and licensing your technology to the Government of India ) ?
Even if LEAP is successful in mass-printing RFID embedded notes, could such 1,000 notes ( weighing 1000 grams ), and carried in shirt pocket , be tracked ? How ?
With regards,
Hemen
PS :
{ Source : https://www.bemoneyaware.com/
Extract :
Ø Technically, NGC technology can be used in currency notes, as thinned down chips were reportedly developed by a team at North Dakota State University in 2013.
Ø It costs the government Rs 3 to print a Rs 1,000 note.
RFID technology would potentially increase the cost per note significantly.
And then would the signal be strong enough to be picked up by satellite, as claimed by the WhatsApp forward?
RFID tags needs readers in close proximity, so readers could be installed at public places to catch the ‘sought-after’ notes, but the forward talks of NGC, which is satellite-based
From: Val Marinov [mailto:val.marinov@uniqarta.
Sent: Tuesday, November 12, 2019 1:51 AM
To: 'Hemen Parekh'
Cc: Ronn Kliger
Subject: RE: Embedding RFID in Paper Currency Notes
Hello, Mr. Parekh—
I appreciate your interest in our “smart” paper technology. The first results from this work were published in 2012-2013 based on the work my team carried out at North Dakota State University (see the attached presentation for the US Document Security Alliance (DSA) Meeting in 2013). The IP for this technology right now is with Uniqarta, Inc., where the development work continued until 2015. The further development in this direction was discontinued because of the lack of immediate commercial opportunities. Under certain circumstances, we may, of course, reconsider this decision.
Best regards,
-Val
Val R. Marinov, Ph.D.
CTO and Founder, Uniqarta, Inc.
1805 NDSU Research Park Dr, Fargo, ND 58102
(c) 701-491-1873
val.marinov@uniqarta.com | www.uniqarta.com
From: Hemen Parekh <hcp@recruitguru.com>
Sent: Saturday, November 9, 2019 11:39 PM
To: Marinov, Val <val.marinov@ndsu.edu>
Cc: hcp@recruitguru.com
Subject: Embedding RFID in Paper Currency Notes
Dear Dr Marinov,
For past few years, I have been pleading with Indian Government to explore embedding of RFID sensors in large denomination currency notes , to enable tracking and thereby , reducing BLACK MONEY ( tax-evaded cash )
So far , I have not been able to locate technology which can do this
Today, I came across following article which speaks of your promising efforts in this matter :
'Smart' paper and antennaless RFID tags
Since publication of your paper some 6 years ago, has there been any progress in commercial application of the technology developed by you ?
Any feedback would be highly appreciated
With regards,
Hemen Parekh
Mumbai – India
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