Earthsoft Foundation of Guidance26th April 2013

Project idea – e_currency

We use electronic media / internet / wi-fi for most of the transactions however there are limitations. E.g. we can not transfer physical goods using internet though we can instruct to transfer. There is a limitation that we can transfer money in physical form from Person A to person B, though we can instruct using internet banking and other methods.

Here is an idea which will help to transfer money in various currency form as an attachment from person A to person B..let us see how.

1. We will have branches in every town, suborns of cities where user can buy e_currency by making payment.

2. Branch will issue e_currency in one of the following options

a. Electronic Files of Coupons in various amount

b. Card which can be loaded with equivalent credit

3. User now can use the label or card while making any transactions using internet. One can enter the said coupon no or attach currency file to the transaction. User even can attach the file in email and send it to other person. (once it is used or send to other person, its value remains with the bearer. File or coupon physically is vanished from the device (laptop, smart phone, etc).

4. This overcomes following limitations

a. Current mail transfer of money where control remains with the banks only.

b. One can remit the money quickly and as much and whenever required

c. One can use it for direct transfer

d. Debit card does not allow to attach the required sum in email

5. Branches would only charge 0.2% on the transactions

6. This is a life changing idea & author reserve the right to implement the same. Following are the steps