Blue Currency
I visualise the induction of this type of currency that I call blue currency replacing the existing paper currency. I wish may India be the the first country to introduce blue currency in the world. This will remove many problems associated with paper currency. Of course new problems will arise with this currency too but those will not be as fatal to a country as paper currency is, like production of fake currency, black money .
What blue currency is!
Concept of this type of money evolvs out of the present modes of money transaction, like fund transfer through e-banking, credit cards etc. One may call this currency as e-currency but I call it blue currency because it will travel through blue sky. Blue Tooth technology allows the data transfer between two devices (as two mobile phones) within a certain range. Also data can be trnsferred to a remote place wherever telecommunication signal reaches. Just like paper currency, blue currency will be transferred from one hand to another hand, one account to other account whener needed.
Consider the situation when this blue currency is in use. A balloon seller is selling inflated balloons on the street and you are walking through the street with your little child. Your child demands a balloon and you buy a balloon for the child. To pay the cost of the balloon, say 25 paise you will take out a cellphone-like device and the balloon-seller also has the same type of device. you will activate your device through your unique code then you will type 25p and just like you send image to another mobile through Blue Tooth technology, you will transfer this data and balloon-seller has to give the acceptance. That's all, this 25p will be added to the credit column of his account present inside the device, and 25p will be debited from your account. This device will also act as a purse, I shall call it BCP (Blue Currency Purse).
In the evening when his(balloon-seller's) work is finished he will go to his house buying some vegetables on the way. Same way the transaction of money involved in buying the vegetables will take place.
This all description indicates that everyone should have the knowledge of mobile operation and must be a litrate person in the country.If it is so, well and good, Otherwise also the blue currency is workable.
If a person is illiterate, he will learn to operate the BCP very soon as it is the matter of money.
I visualise the induction of this type of currency that I call blue currency replacing the existing paper currency. I wish may India be the the first country to introduce blue currency in the world. This will remove many problems associated with paper currency. Of course new problems will arise with this currency too but those will not be as fatal to a country as paper currency is, like production of fake currency, black money .
What blue currency is!
Concept of this type of money evolvs out of the present modes of money transaction, like fund transfer through e-banking, credit cards etc. One may call this currency as e-currency but I call it blue currency because it will travel through blue sky. Blue Tooth technology allows the data transfer between two devices (as two mobile phones) within a certain range. Also data can be trnsferred to a remote place wherever telecommunication signal reaches. Just like paper currency, blue currency will be transferred from one hand to another hand, one account to other account whener needed.
Consider the situation when this blue currency is in use. A balloon seller is selling inflated balloons on the street and you are walking through the street with your little child. Your child demands a balloon and you buy a balloon for the child. To pay the cost of the balloon, say 25 paise you will take out a cellphone-like device and the balloon-seller also has the same type of device. you will activate your device through your unique code then you will type 25p and just like you send image to another mobile through Blue Tooth technology, you will transfer this data and balloon-seller has to give the acceptance. That's all, this 25p will be added to the credit column of his account present inside the device, and 25p will be debited from your account. This device will also act as a purse, I shall call it BCP (Blue Currency Purse).
In the evening when his(balloon-seller's) work is finished he will go to his house buying some vegetables on the way. Same way the transaction of money involved in buying the vegetables will take place.
This all description indicates that everyone should have the knowledge of mobile operation and must be a litrate person in the country.If it is so, well and good, Otherwise also the blue currency is workable.
If a person is illiterate, he will learn to operate the BCP very soon as it is the matter of money.
