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ASHISH SHARMA
Joined: Jul 3, 2004
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Country: India
Province/State: Rajasthan
City: Jaipur
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E CURRENCY SYSTEM PROJECT PROMOTION
December 17, 2004 - 09:31 AM
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I have authored a book "HAS THE TIME FOR ELECTRONIC CURRENCY COME" published in South Carolina, U.S.A by Book Surge. In this book I have devised electronic currency system, a complete monetary system, proposing to replace present monetary system i.e., Paper Currency System. Application of electronic currency system will solve almost all the present day's economic and social problems. This will also solve unemployment problem. Details about this idea/innovation can be seen by visiting http://projects.takingitglobal.org/ecurrency
I request for interaction/comments in this regard.
Also please visit www.electroniccurrencytime.com
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Brian
Joined: Jan 22, 2004
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Re: E CURRENCY SYSTEM PROJECT PROMOTION
December 17, 2004 - 03:53 AM
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I looked at your site. Good stuff. I'm not very knowledgeable about finance, but I have a question. How do you feel about idetity theft now that commerce is becoming more and more electronic, as you say? With the ability to pay in cash we can do certain things anonymously, but run the risk of being robbed! The same thing can happen electronically if there isn't enough security in place. Another thing I worry about is governments taking advantage of the fact that many people are online which makes them easier to be tracked and monitored. When the day comes when I am asked to have my account number tatooed or implanted under my skin, I will have to draw the line! = )
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ASHISH SHARMA
Joined: Jul 3, 2004
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Gender & Age: Male, 48
Country: India
Province/State: Rajasthan
City: Jaipur
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Re: E CURRENCY SYSTEM PROJECT PROMOTION
December 18, 2004 - 01:19 AM
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Thanks for paying attention. I am furnishing herein below replies to your querries:
A. about risk of being robbed:
1. In electronic currency system, there is no risk of being robbed/cheated because of the following reasons/checks:
(i) Unique Code: Every Electronic Currency Pad will be issued a unique code number unique to that pad. Unique code number issuance will be under strict government controls. That means there will not be any chances of making duplicate electronic currency pads. These unique codes will be generated by computers. Computer will track records of unique code number records to avoid happening of duplicacy.
(ii) Password Operating System: Owner of electronic currency pad will have the facility of password operating system known only to him.
(iii) Transaction Code: Every Electronic Currency Pad will, into their memory, be fed with computer generated transaction codes. Transaction codes designing will be such that nobody could predict next transaction code. These transaction codes will be periodically updated by banks and fresh transaction code series will be fed into the memory of electronic currency pad on exhaustion of previous issued transaction code series. This is just like issuance of cheque book by bank on utilization of earlier issued cheque books.
These above mentioned checks will avoid chances of being robbed/cheated. Still, if by any chance, somebody, due to coercion/undue influence or other methods rob/cheat a person, the cheated person can approach bank with transaction code details along with electronic currency pad. Bank can help in locating that person through transaction code. Here, I would like to state that Banks will have complete parallel records, they will also monitor computer generated reconciliation statement viz.,
(Unique Code of Payer ----Transaction Code -----Unique Code of Receiver)
This way Bank will come to know about every detail/address of every defaulter/transaction.
Any transaction code remaining unreconciled will prompt banker to ask from that one unique code holder about other person whether receiver/payer for better control.
Hence, chances of people making duplicate pads/robbery/other financial crimes will be controlled/avoided in electronic currency system.
2. Another thing that you have asked for is about governments taking advantage of the fact that many people are online which makes them easier to be tracked and monitored.
In India approx. 75% of the total money in supply is with banks. That means only approx. 25% of the total money in supply is in cash/unaccounted. I think in USA/other democratic countries also the figure would be approx. similar. In other words, in present paper currency system, government is having controls on 75% of the total money in India. Bank could finance only 50% of the total money deposited with them i.e., 50% of the money deposited is remaining idle with banks. That is money is underutilized resulting in dependency on other countries, unemployment problem, lesser per capita income/national income, lower rate of industrialization etc.
In electronic currency system, though Government can have full control, of course through banks, still people’s democracy(liberty) is not in danger. Government won’t have direct controls. Public will have full confidentiality about their money. Only in case of people involved in doubtful activities, Govt. can have their account details. That is still there in paper currency system, govt. do ask for/ even seize account details of people whose honesty towards society/country is in question. This electronic currency system will help government for better control to avoid financial/economic irregularities and terrorist activities. Besides, in present paper currency system, there are many economic diseases such as black money, inflation, financial crimes, bribe etc, Lot of money is flowing into terrorist hands annonimously. There is no way of knowing that who and how these convicts of global peace are being funded. Electronic currency system will solve all these present days problems. The prime thing about electronic currency system is that here money multiplies itself through income cycle creation. The greatest problem i.e., unemployment problem will also be solved because income cycle is created. Money can never be withdrawn from the system without hampering liquidity i.e., all the money will always be deposited with banks. I think, with the comparative advantages in electronic currency system, we should allow government to have limited access to have details of peoples accounts who are involved in anti social activities. For further details I request you to purchase this book from www.booksurge.com,
www.electroniccurrencytime.com. Author is Ashish Sharma Book is “HAS THE TIME FOR ELECTRONIC CURRENCY COME”
You can have access to a few details by visiting http://projects.takingitglobal.org/ecurrency
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ASHISH SHARMA
Joined: Jul 3, 2004
Posts: 25 (view all)
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Gender & Age: Male, 48
Country: India
Province/State: Rajasthan
City: Jaipur
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E CURRENCY SYSTEM PROJECT PROMOTION
January 21, 2005 - 10:00 AM
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I have devised Electronic Currency System, a complete monetary system, proposing to replace present monetary system i.e., Paper Currency System. Application of electronic currency system will solve almost all the present day's economic and social problems. This will also solve unemployment problem, Terrorism Problem etc. Details about this idea/innovation can be seen by visiting http://projects.takingitglobal.org/ecurrency .I request for interaction/comments in this regard.
Also please visit www.electroniccurrencytime.com. Any body interested in joining is welcome. Also please visit http://updates.takingitglobal.org/read/ASHISHMANISHA
updates and discussions posted in this regard. FINANCE IS NEEDED FOR PROMOTION AND DEVELOPMENT OF THIS PROJECT. Anybody (a generous contributor) is most humbly requested to FINANCE THIS PROJECT HAVING SUCH A GREAT IMPACT ON GLOBAL ECONOMY AND SOCIETY. You Can also contribute to this noble cause by purchasing copy of the book. Please respond for Global Peace and betterment.
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ASHISH SHARMA
Joined: Jul 3, 2004
Posts: 25 (view all)
Poster Rank:
Talkative
User is
Offline
Gender & Age: Male, 48
Country: India
Province/State: Rajasthan
City: Jaipur
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E CURRENCY SYSTEM PROJECT PROMOTION
January 21, 2005 - 10:01 AM
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I have devised Electronic Currency System, a complete monetary system, proposing to replace present monetary system i.e., Paper Currency System. Application of electronic currency system will solve almost all the present day's economic and social problems. This will also solve unemployment problem, Terrorism Problem etc. Details about this idea/innovation can be seen by visiting http://projects.takingitglobal.org/ecurrency . I request for interaction/comments in this regard.
Also please visit www.electroniccurrencytime.com . Any body interested in joining is welcome. Also please visit http://updates.takingitglobal.org/read/ASHISHMANISHA
updates and discussions posted in this regard. FINANCE IS NEEDED FOR PROMOTION AND DEVELOPMENT OF THIS PROJECT. Anybody (a generous contributor) is most humbly requested to FINANCE THIS PROJECT HAVING SUCH A GREAT IMPACT ON GLOBAL ECONOMY AND SOCIETY. You Can also contribute to this noble cause by purchasing copy of the book. Please respond for Global Peace and betterment.
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ASHISH SHARMA
Joined: Jul 3, 2004
Posts: 25 (view all)
Poster Rank:
Talkative
User is
Offline
Gender & Age: Male, 48
Country: India
Province/State: Rajasthan
City: Jaipur
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E CURRENCY SYSTEM PROJECT PROMOTION
January 21, 2005 - 10:02 AM
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I have devised Electronic Currency System, a complete monetary system, proposing to replace present monetary system i.e., Paper Currency System. Application of electronic currency system will solve almost all the present day's economic and social problems. This will also solve unemployment problem, Terrorism Problem etc. Details about this idea/innovation can be seen by visiting http://projects.takingitglobal.org/ecurrency ;
I request for interaction/comments in this regard.
Also please visit www.electroniccurrencytime.com . Any body interested in joining is welcome. Also please visit http://updates.takingitglobal.org/read/ASHISHMANISHA updates and discussions posted in this regard. FINANCE IS NEEDED FOR PROMOTION AND DEVELOPMENT OF THIS PROJECT. Anybody (a generous contributor) is most humbly requested to FINANCE THIS PROJECT HAVING SUCH A GREAT IMPACT ON GLOBAL ECONOMY AND SOCIETY. You Can also contribute to this noble cause by purchasing copy of the book. Please respond for Global Peace and betterment.
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ASHISH SHARMA
Joined: Jul 3, 2004
Posts: 25 (view all)
Poster Rank:
Talkative
User is
Offline
Gender & Age: Male, 48
Country: India
Province/State: Rajasthan
City: Jaipur
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E CURRENCY SYSTEM PROJECT PROMOTION
January 21, 2005 - 10:07 AM
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I have devised Electronic Currency System, a complete monetary system, proposing to replace present monetary system i.e., Paper Currency System. Application of electronic currency system will solve almost all the present day's economic and social problems. This will also solve unemployment problem, Terrorism Problem etc. Details about this idea/innovation can be seen by visiting http://projects.takingitglobal.org/ecurrency . I request for interaction/comments in this regard.
Also please visit www.electroniccurrencytime.com . Any body interested in joining is welcome. Also please visit http://updates.takingitglobal.org/read/ASHISHMANISHA
updates and discussions posted in this regard. FINANCE IS NEEDED FOR PROMOTION AND DEVELOPMENT OF THIS PROJECT. Anybody (a generous contributor) is most humbly requested to FINANCE THIS PROJECT HAVING SUCH A GREAT IMPACT ON GLOBAL ECONOMY AND SOCIETY. You Can also contribute to this noble cause by purchasing copy of the book. Please respond for Global Peace and betterment.
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ASHISH SHARMA
Joined: Jul 3, 2004
Posts: 25 (view all)
Poster Rank:
Talkative
User is
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Gender & Age: Male, 48
Country: India
Province/State: Rajasthan
City: Jaipur
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Re: E CURRENCY SYSTEM PROJECT PROMOTION
June 15, 2008 - 08:36 AM
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[quote] Dear Ashish,
Have I got this right -- you propose a handheld electronic machine which will take money out of my account (when I pay) and transfer it into yours (when you are to be paid).
Certainly in the UK today most transactions (particularly in terms of total value) are already electronic in one form or another (debit cards; credit cards etc) and so your idea is not too far away from present reality. So it might well be a practical idea for exchange of money between people at some point in the near future.
However, it completely avoids the big financial and economic issues e.g:-
a) who issues the money supply?
b) to whom?
c) in what way?
d) for what purpose?
e) is interest necessary where the development and spreading of productive capacity is concerned?
Associated with these matters are issues about why people do, or do not, have money in the first place and why economies are, or are not, efficient and just.
Of course it may be that you propose no increase at all (ever) in money supply but that raises other issues.
Rodney Shakespeare.
Author of Binary Economics, person considered to be most eligible for noble prize for economics
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