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Abstract
Key words Introduction Technical Details How To Use Why To Use Application Conclusion
ABSTRACT
Replaced paper currencies, electronically.
payment modes, creating the potential for private money to compete with government-issued currencies.
Just as every thing is getting under the shadow of e
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The Money Pad introduced here uses the biometrics
KEY WORDS
1.
MONEY PAD - A form of credit card or smart card similar to floppy disk, which is introduced to provide, secure e-cash transactions.
2.
DIGITAL MONEY OR e-CASH - they refer to any of the various methods that allow a person to purchase goods or services by transmitting a number from one Computer to another.
3.
BIOMETRICS TECHNOLOGY - Technology used to accurately identify and verify an individuals identity. FINGER PRINT READER A machine with read/write head capable of reading the information stored in the Money Pad.
4.
INTRODUCTION
The wallet of the future will hold less paper cash coins magnetic stripe cards. It will hold Money Pad
containing digital cash and other financial information, updated perhaps automatically by a PDA with a satellite communication link.
Smart Cards
1.Credit Card
They are payment devices that allows the consumer to make purchases within guarantied limits as defined by the issuer of card.
Disadvantages1. Instant clearing of funds is not possible . 2. User is always under the pressure of limits on purchase defined by the issuer of the card and also every transaction involves certain Charges. 3. Insecure transactions using fixed encryption. 4. The card has to be renewed once it is expired.
2. Smart Card
Holds upto 8000 bytes of information
Disadvantages: 1. Insecure transactions using fixed encryption. 2. Risk of data loss due to chip failure.
3. New Approach
To over come the above drawbacks of credit cards and smart cards a medium of exchange to carry digital cash wherever man wants, which was named as Money Pad.
and then place it in a finger print reader. The reader will ask for bank code of the database. Then he can enter into his e-bank, After the reader will access the finger print. General info. Of users
Finger print reader Database server
Info.collected in passed to the server for verification
Unauthorised
Money pad
Authorised
E-book
money pad NOTE: The Money Pad consists of stored information like account number, bank code (from where he has purchased this money pad) and his fingerprint.
FIELDS OF APPLICATIONS
Applicable in e-banks and in any kind of e-transaction.
Useful to carry Digital cash. Utilization of personal data in filling order forms. Applicable in m-commerce transactions.
CONCLUSION
For a digital currency system to attain widespread recognition and use the following three requirements are necessary: