I started to write this post right after hearing about the historical event of releasing two new bills of Rs. 500 and Rs. 2000 followed by total abandoning of current 500 and 1000 currency notes. The very news is not the reason, this post is concerned with the news which is spreading over social networks as followed..
*why RBI is issuing ?2000 Rupees Notes *
The Rs 2000 currency is designed keeping in mind to eradicate the black money issues using state of the art indigenous nano technology, every Rs. 2000 currency note is embedded with a NGC (Nano GPS Chip)
How the embeded NGC Technology Works?
The unique feature of the NGC is it dosent need any power source. It only acts as a signal reflector. When a Satellite sends a signal requesting location the NGC reflects back the signal from the location, giving precise location coordinates, and the serial number of the currency back to the satellite, this way every NGC embedded currency can be easily tracked & located even if it is kept 120 meters below ground level. The NGC cant be tampered with or removed without damaging the currency note
How will this help eradicate black money menace?
Since every NGC embeded currency can be tracked. The satellite can identify the exact amount of money stored at a certain location. If a relatively high concentration of currency is found a certain location for a longer period of time at suspicious locations other than banks & other financial institutions. The information will be passed on to the Income Tax Department for further investigation
Just a beginning of the end of black money in India
When I received this message through WhatsApp group chat, I started to search for some validation on this in Google… The search leads to nowhere (until now @ 11pm of Nov 8, 2016). No Government agencies/Reputed News channels has a word on it. So after a little search I conclude the following points..
- Nano GPS chips are available in this world with the size of 4x4x2.1mm . NO WAY it can fit into a paper-thin currency. The chip was recently debuted by Isreli company called OriginGPS. There’s no evidence of GPS tracker chips lesser than mention size..
- It is utterly not possible to manufacture it in this large scale in the minimal period. Not even well developed countries has implemented this tech so far. It may be possible, but not today.
- No way a tracker can send a signal back to satellites… Sending signals to satellites need energy. Thus a chip without power source can’t send any signal to satellite.. Advocating with the point, “it is possible with Passive-RFID” may seems to be right, but still Passive chips need their receivers to be within smaller distance from few feets to kilometers(may be even less). NO WAY a passive chip can reflect back the signal to that much distance. (from earth to satellite)
- Most GPS trackers receive signal from at least 3 satellites. Then the data from the satellite is pushed through cell network to the destination, where the location is decode by triangulation. (In some cases this location decoding is done in tracker itself and the location detail is sent by connecting to nearest cell tower using any data transmission technology such as GPRS, 3G, etc. ) Devices sending the data directly to satellite network needs decent amount of power supply(at least in terms of few volts), which NO WAY possible in this currency case.
- In NO WAY a satellite can pick a signal which is generated from 120 meter ground deep. Most of us are familiar with losing cell network signals inside buildings. Underground parking areas probably 3 meters deep from the ground level is more than enough to cut off the signals (provided the tower is not much closer to that area). GPS signals are weaker than those microwaves produced by our cell phone towers. So practically it is not possible..
- It will cost RBI much more to print the notes with embedded nano chips and antenna.
I haven’t encountered a single theory that supports the above mentioned news.. In my opinion, it’s a fake news. It’s just my opinion based on the claims I stated above. Facts aside, it would be great if the idea behind the news is real…:-) Unfortunately it is not, at least until now…
If you have different view on this story please share it in the comments…