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Why not a digital tablet to replace "cash" and to secure both seller and buyer ?



One day (sooner or later), "cash" will be replaced by "digital money".                               
After credits cards, online payments, bank tranfers, ... and multiple frauds within the banking system ... it is time for the next step : digital money only.

Sweden (in 2017) is already doing all kinds of transactions via smartphones and cash is often refused for security reason (thieves, fake banknotes, ...). Today, only 2% of transactions in Sweden are in cash !!

In the near future, each of us will have one unique account and one tablet with touch screen (your photo and name printed on it and with its unique code) with international standardized connection (like USB), speaker, ear plug, and a small removable credit card (also with its unique code) inserted on one side of the tablet.

This tablet will be around 8 to 10 inches diagonally, with phone, wifi, bluetooth, ... and your account will be managed by the local accounting office (not anymore by banks - VERY IMPORTANT !!).

The tablet will be powered by a rechargeable battery with solar cell and an external power supply via USB.

The small credit card will be readable by any other tablet, waiting for the approvement from the accounting office to do the transaction.
For the payment, the buyer will insert his credit card in the seller's tablet to do the transaction.
For online purchase with a computer, the tablet will be connected to computer via its international standardized connection.

Fingerprint reader (on the tablet only) and double security code will totally secure the transaction.

The accounting service will monitor all suspicious activities (large sums, code errors , ...) and will deliver a new tablet or credit card in case of loss or damage, cancelling the old one.

Transactions will be divided in categories, by example :
- services
- food
- drinks
- consumables
- house bills (electric, water,...)
- electric appliances
- furniture
- ...

Each transaction (for product or service) will be securized by a 90 days or 180 days refund policy (as on Paypal®) depending the kind of transaction.

Because of a unique account per owner, money transfer to someone's account will not be allowed, just purchases.
A Dispute Service will take care of litigations.
Transfers between accounts will be allowed through the accounting service only, with valid reason(s) for transfer.
The money transfered will be blocked by the accounting service until its final approbation.

Teenagers will also have a tablet and card, the parents will be allowed to transfer to their account a maximum amount per day/week or month with limited possibilities regarding their age :
- limited amount of money on the account,
- number of transactions per day/week/month,
- maximum money per transaction.

Any fraud will hold the amount of money concerned on the frauder's account until the fraud has been solved by the accounting service.
Repetitive frauds will freeze frauder's account.
So ... the best way to avoid frauds !!

(If you have any other ideas about this system, please share them.)


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