Monday, 25 April 2011

NFC Mobiles Replacing CASH In Future Can Eradicate Corruption


(Latest revision on 24th May 2011)

In recent years, 2011 in particular,  world public  are getting frequent news reports, articles about the Digital (E)Money payment/receipt enabling Near Field Communication (NFC) technology equipped mobile phones entering into the world market in a big way posing as the most efficient alternative to the century old traditional CASH money  transaction.  However they are not much aware of its great potential to eradicate most of the CORRUPTION as well as the violent crimes from the world. In my paper  titled “ IT To Root-out Corruption” written in 2008 I strongly contend that the CASH MONEY IS THE KEY FACILITATOR OF ALL CORRUPTION. Thereby bringing in mandatory Electronic Money Transaction  like NFC  combined with the Biometric Identity security, can very much enable the world Governments to completely get rid of all sorts of economic crimes  popularly known as corruption (basically illicit money transactions) along with other violent crimes, only if there is the political will to get it done.

My above mentioned paper now published in <bolgspot.com>  gives foremost importance to the modern cyber age, hi-tech  Digital or Electronic Money Transaction in which the Near field Communication technology today at its forefront. Experts in the field strongly predict that it will gradually going to replace the CASH money and eventually will make it redundant in the future. However it is very much necessary that these  digital money devises, NFC’s in particular should most  importantly have the Biometric Identity (palm finger print , face, iris recognition etc) based Social Security Number (SSN). So while making the e-money transaction both devises should first check, exchange and record the numbers in-between to get it activated to make a safe and secure  money transactions (no need of account book keeping is a side benefit).

The Bio-metric Identity (Bio-ID) security feature in the NFC technology enables it to effectively prevent all sorts of cyber economic crimes such as the digital or e-money pick-pocketing and its related frauds, theft, etc. However  most importantly it will  protect people owning this devises from dangerously becoming  the targets or victims of  all sorts of  violent economic crimes like mugging, looting, burglary, robbery, assault even from getting murdered,  all these crimes mostly committed to ROB MONEY or to take revenge against it or to prevent it!  By the way, there  needs to be a limit to the amount of money a NFC’s can hold; when the amount (or its transaction records) exceeds a given limit  the sum (or the transaction records) should be first transferred to its main bank account, similarly when the wallet gets empty it can refilled from it. Of course, the NFC needs to be equipped with the internet connection (already there) so even a big sums of money can be transferred part by part from one NFC to the other NFC, then send (by wireless money like a Credit Card) online and deposited into their bank  account (or vice versa) in the process all its transaction  details including  the SSN ID will get recorded in the banks digital money data storage system. In short, all this will ensure that the electronic or digital money transaction becomes highly safe and secure that it will be impossible for anyone to steal, rob or fraud the E-Money.


In this way,  every money transaction conducted through this NFC between people and the businesses eventually will  get recorded in its main banks account (like in the bank pass-book) providing concrete evidences  of the money trail track record of any such criminal or illicit money transaction (corruption) any time afterwards. Thereby, if its public scrutiny or legal inquiry is ordered, it can be made available as a concrete evidence to prove the crime before the courts. This is how it will effectively deter most (if not all) people from indulging in  any such kinds of economic crimes including the violent crimes mentioned earlier.

By the way there needs be two main kinds of Social Security bank account numbers assigned for the NFC’s. The first one is the already mentioned SSN, universally unique for each and every person mainly for the  personal or ownership  use/purpose and the  second one Social Security Business Number (SSBN) bank account mainly for  the business purpose. The SSBN should necessarily have the SSN of the Proprietor(s) or the manager(s) in its registry records, which is among other things most importantly for enabling the Govt. TAXATION. Besides that, people  can have any number of  NFC’s but all of them should come under either the SSN or the SSBN  based  bank accounts.

Before concluding I would like to point out that nowadays the general public come across some scaremongering news reports articles in the media that how the electronic or the digital money can lead into dangerous cyber economic crimes in the future rather than highlighting its most important security feature of completing getting rid of most of the crimes if combined with the Bio-ID technology. Hereby I appeal to the professionals who are actively promoting digital money specially the companies experts advocating  and campaigning for the NFC  technology in the financial sector please to high-light most important anti-corruption aspect of this  NFC,  Bio-metric Digital Money to the world economy so all those leading economic development poverty eradication, anti corruption concerns, people, organizations , Govt. agencies, see the need and work towards this goal.

I have first explained it in details in its main paper titled “IT To Root-Out Corruption” in <i-opinion-about.blogspot.com>  and secondly in <anticorruptionfight.blogspot.com>.  The web page short addresses of some of its most important papers post articles  given  down below.  It is very important to understand this article.

Before which, some important news report articles on the NFC e-money transaction

There are lots more of such NFC reports that one can find by searching in Google images for the word “NFC”.


IT To Root-Out Corruption
http://bit.ly/eyirez  

CASH Money The Key Facilitator Of All Corruption
http://bit.ly/mLJBXd

Corruption Wins Election Honest Candidates Loose

http://bit.ly/lcJeVF

Transparency International: Corruption Perception Index A Sham
http://bit.ly/hPFn0V

Poverty Greatest Crime Against Humanity                                                                                                        http://bit.ly/gLpRdv

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