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2019 | OriginalPaper | Chapter

3. Redesigning Current Banknotes with Blockchain Infrastructure: A Model Proposal

Authors: Sabri Erdem, Derya Altun

Published in: Blockchain Economics and Financial Market Innovation

Publisher: Springer International Publishing

Abstract

The aim of the model proposed is to introduce a new hybrid system that can be used with less effort and requiring very few modifications in the existing structures. The model combines the advantages of both digital currency and paper-based banknote system. It uses QR Coded banknotes, digital wallets and blockchain technology to ensure, confirm and enhance the ownership of the banknotes. This model is intended to be used at the macro level by governmental policies since the money system can only be regulated by them.

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Title: Redesigning Current Banknotes with Blockchain Infrastructure: A Model Proposal
Authors: Sabri Erdem
Derya Altun
Publisher: Springer International Publishing
Book: Blockchain Economics and Financial Market Innovation
Print ISBN: 978-3-030-25274-8

Electronic ISBN: 978-3-030-25275-5

Copyright Year: 2019
DOI: https://doi.org/10.1007/978-3-030-25275-5_3

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