Feeds

EC moots trackable cyber euro

Lost your wallet? Help may be at hand...

  • alert
  • submit to reddit

High performance access to file storage

The European Central Bank (ECB) is considering embedding tiny radio tags into euro notes in a bid to combat counterfeiters and money launderers, a report today notes.

The ECB is in talks with Hitachi, whose 0.3mm "mu-chip" responds to radio signals by sending out a 128-bit number. This information could include a serial number and date and place of origin. It could also be used to track the note as it wends its happy way around the EU.

The plan's authors hope that such tagging will fight the trade in dirty money with the spin-off benefit of pointing the finger at kidnappers and armed blaggers.

It's an interesting idea. With Britain's entry into the happy family of Euronations now seemingly a done deal, there is certainly room for speculation as to how the scheme might be advanced and improved for the greater benefit of humanity.

Indeed, dipping the query ladle into the seething ideas cauldron that is the Vulture Central Think Tank dredged up the following:

  • Online wedge-tracking service for spouses of intemperate spenders: "You told me you paid the mortgage but the cash is in fact behind the Bar of The Red Lion. I'm taking the kids to my mother's."

  • Talking Euros for blind people and confused octogenarians: "No dear, I'm a fifty. Put me back in your purse and look for a five."

  • GPS-enabled Euros which vibrate discreetly when a London taxi driver is taking you round the houses.

  • Self-destructing currency for compulsive gamblers - spontaneous combustion of wallet if they try to enter a bookies.

  • Stress-sensitive chips which record when a note has been rolled tighter than a pre-determined radius and then call the Drugs Squad who can swoop on the ne'er-do-well about to inhale Bolivian Marching Powder.

All good stuff, we're sure you'll agree. Sadly, we fear that what the ECB's new technology will actually demonstrate is not Spanish-based Venezuelans counting vast bin-liners full of drugs money, but rather huge concentrations of euro under subsidised farmers' mattresses and in bank shareholders' wallets. Still, you can always dream... ®

High performance access to file storage

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.