THE NEW CURRENCY OF THE FUTURE PRESENTED TO THE G8 LEADERS

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PostThu Jul 09, 2009 6:38 am » by Adamflownemo


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The sample of the first “test” currency from the international project for a new virtual global currency, given the draft name, “United Future World Currency – Eurodollar”, will be presented as an exclusive gift to Heads of State and Government at the G8.
The final name and symbol for the new currency will be decided in a competition for children in 1000 schools throughout the world, organised by the Italian Museo del Tempo.
Although the initial aim is to unite the United States of America with the United States of Europe, it will also be open to other countries.
The example of the Euro, which united countries with different histories and cultures under the same currency, is a concrete precedent that demonstrates how this project can indeed come to life and gather together nations from several different continents.
In sending his message of wishes for the project to its coordinator, Sandro Sassoli, Prime Minister Silvio Berlusconi emphasised that “It is interesting that young students from different countries can get involved in an international project that helps them understand certain aspects of international economic policy, allowing them to prepare for the future monetary union that we hope for.”
In 1996, Sandro Sassoli conceived the idea of the UFWC project, having taken advice from Arthur Schlessinger Jr, former advisor to President John F. Kennedy.
An international jury, comprising the heads of the world’s leading mints, economists, Nobel-prize winners, and figures from the world of culture, will have the task of selecting and rewarding the children’s best work on giving the new currency its name and symbol.
The Royal Mint of Belgium has been the first to issue a test coin for this new currency, a special rare gold edition that will be gifted at the forthcoming G8 Summit. The coin has been designed by Luc Luycx, author of the common side of the Euro coins. The project will study security and anti-counterfeit measures; meanwhile, experimentation to seek innovative solutions for an “intelligent” money are also underway with an university. The currency will also undergo an important public test run at the 2015 Milan Universal Expo.
http://www.futureworldcurrency.com/Docu ... mentID=204

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FIRST TEST ISSUE:
OBVERSE the “Number 1” icon is repeated five times, representing the five continents. The border inscription reads “Unity in Diversity” and includes the first issue date of 2009.

Author: Luc Luycx, Royal Mint of Belgium.

REVERSE: the Tree of Life, with five leaves symbolizing local tree species that grow in the five continents. The border inscription reads “United Future World Currency”.

Author: Laura Cretara, former artistic chief of the Italian State Mint.


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ETG System: Tracking and Guarantee Label for the security of New Generation Banknotes of the UFWC project

AIM: This document provides a brief outline of a system that raises the security level on authenticity for all types of paper documents (e.g. banknotes, contracts, packaging. See areas of application.) and it is inserted in the UFWC program (tests of paper or precious banknotes)

TECHNOLOGY: This system is the integration of two technologies:
1. Cryptography (symmetric or asymmetric) and/or hashing.
1. Barcode.

Thanks to cryptography, even integrated with hashing techniques, the authenticity, integrity, privacy and non-disclaimer of information can be guaranteed. Such a guarantee is made possible by a security code that is associated unequivocally with the information you wish to safeguard. Said security code can take the following forms, according to the application in question: digital signature, ciphering or hashing of information, or any combination of these.
The security code generated as described above is codified as a barcode in paper documents. As a result, it can be read and verified rapidly using appropriate devices with optic and/or magnetic readers.
EXAMPLE APPLICATION (Figure 1): Let’s take the example that we wish to prevent a banknote serial number being tampered with. The serial number can be signed or simply codified (given the limited length of serial numbers) using a private key belonging to the authority that has issued the banknote. The result of this operation is a security code, in the form of a barcode, that can be printed on the banknote. The security code is a key element for guaranteeing the security features that we wish to ensure. Indeed, this tool will allow us to guarantee the integrity of banknote serial numbers, in other words, they cannot be tampered with.
Serial number authenticity can be verified with a simple barcode scanner and appropriate software to decode the barcode using the public key of the authority issuing the banknote. The barcode scanner, software and issuing authority’s public key can be freely distributed to those requesting them (organisations, businesses or ordinary citizens). It is important to note that this process is entirely analogous with the digital signature process.
NOTE: It must be stressed that this mechanism prevents tampering with serial numbers, but not banknote duplication. Should a counterfeiter produce a thousand copies of the same banknote, all with the same serial number and corresponding barcode, the system would not be able to detect the fraud.
On the other hand, inserting the barcode guarantees the detection of fraud that alters the serial number but leaves the barcode intact (and vice versa). It is important to note that it is impossible to print a fake banknote with an invented barcode and serial number, since this would require the counterfeiter to have access to the private key belonging to the banknote issuing authority. This key, by definition, remains exclusive to the issuing authority.
In short, this system allows us to guarantee that a serial number has not been tampered with, but not that it has not been duplicated. Nonetheless, the inclusion of the barcode automates verification of any duplicate banknotes. Indeed, once fraud has been discovered, you need only scan the given banknote barcode and consult a database of barcodes for duplicate banknotes to reveal foul play.
FIELDS OF APPLICATION: It is worth noting that a similar mechanism to that described above can be effectively used to guarantee the authenticity of information carried in: medical prescriptions; checks; ID (e.g. passport, ID card); qualification certificates (e.g. driver’s licence, certificates of legal qualification); fiscal documents (e.g. fiscal receipts, invoices); legal documents (e.g. contracts, laws, statutes); financial documents (e.g. financial statements); season tickets for events (e.g. football, concerts, museums) or transport and bus/train tickets; pharmaceutical packaging; and product packaging. In short, any paper document that carried important information.
This document provides a brief outline of a system that raises the security level on authenticity for all types of paper documents (e.g. banknotes, contracts, packaging. See areas of application.) and it is inserted in the UFWC program (tests of paper or precious banknotes)

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