India could go for card system and avoid all the halla bulla about notes. Cards can be made very secure with todays technology, and if it fails there is a sure way of finding where it has gone. I AM INTERESTED TO TELL YOU THAT EVEN FROM MY SECURE ACCOUNT WITH HDFC BANK, A LAKH OF RUPEES WAS WITHDRAWN BY SOME BLOKE.
Also money in the form of cards, as our friends mentioned below, with bar codes and other such security measures which needs to be checked by the reicever through some security device and verify before accepting for denominations such as 10,000 - 25,000 - 50,000 - 100,000 can be introduced. This will help going for secure transactions and also track the money.
Re: Modern currency
by jitun mandal on Sep 18, 2009 01:12 PM
RFID is a better option, you can call it as an advanced vesrion of barcoding. Barcoding can only tell you that its a currency.RFID would not just tell that it's a certain kind of currency, it will tell you it's No. is 2114285432.
Re: Modern currency
by Vineet MohanSrivastava on Sep 19, 2009 10:04 AM
Barcode is not a security mesure first of all. Where as using RFID we can control conterfiting of the notes. But for that political will power is required.
