Since time immemorial, cash determines the social and economic life of our society and just as long, humanity suffers under the cash related risks and problems that arise until today and foster the crime.
In addition to the persistent counterfeiting, which affects virtually every country and monetary system, holdups and bank robberies are a present problem that could not be solved until now and needs to be addressed.
The DICE procedure was developed to consequently solve all security-related complications of cash systems today, and to fight global criminality while protecting the citizens.
According to the current development, the DICE banknote is also the answer to all problems that are being traded as a motivation for governments to abolish cash.
Due to the numerous benefits, the “banknote of the future” is destined to find strong support from both, the governments and the citizens.
Based on identifiable banknotes, preferably with a custom-frequency and secure RFID or machine readable codes like Datamatrix – or a smart combination of both, the DICE system integrates reliable and innovative technologies that combine their advantages to incorporate them into an optimized security.
The basic process consists of three primary components:
- Intelligent Banknote, which carries the identification modules (MRC Code and/or RFID);
- Blockchain-enabled Cloud device, which scans and reads the banknotes respectively and runs on a consortium blockchain;
- Digital Automated Systems, which are based on a number of highly intelligent systems that register and manage the banknotes.
Following that, the systems take advantage of a set of mechanisms, among others:
- CEDIRE (Centralized DICE Registration System), a centralized registry of banknotes;
- RENODE (Remote Note Devaluation), a “digital dye pack” that deactivates or re-activates illegal and degraded banknotes remotely;
- DASU (DICE Automated Security Unit), the central security unit that monitors and manages the proper functionality of the systems.