TERRORISM CONTROLLED
Terrorism is the result of terrorist activities. Terrorist purchase weapons/arsenals, bombs etc through funds/money. Terrorist organizations lure innocent people giving them funds in many ways for example salary etc. They recruit these people, train them and get the terrorist activities done by giving them funds. This way unemployed/poor people also join them in search of employment. All these activities are becoming possible because of funds that too mainly because of anonymous funds. These terrorist organizations collect funds through various ways viz., voluntary anonymous contributions, coercion, undue influence, hijacking and various other illegal methods. These collections are mainly possible because Government find itself unable to locate these fund transfer originating sources. If we can somehow control/check these funds flow, terrorism will also be controlled. Besides, unemployment problem another root problem for terrorism should also be solved. Both these problems can be effectively solved through “electronic currency system application”. I have devised this “Electronic Currency System” a complete monetary system, proposing to replace present monetary system i.e., “Paper Currency System”. In this system every monetary transaction done by anybody with anybody will be accounted. Banks will have complete record of every single transaction. If any illegal fund transfer is doubted, both transferor and transferee can be easily identified making them accountable to law. This way illegal transaction can be checked at the very root level making terrorism impossible as without fund terrorists can not act. Besides, another root cause for terrorism, unemployment problem can be solved through “income cycle creation” in this “electronic Currency System”. Details about these can be seen in my website www.electroniccurrencytime.com. Also please visit my updates and discussion posts for further details. I will welcome any querry/comments in this regard. I also invite to join this “Electronic Currency Project” (HAS THE TIME FOR ELECTRONIC CURRENCY COME) for making world free from most of the economic and social problems. Details about this idea/innovation can be seen by visiting http://projects.takingitglobal.org/ecurrency;
I request for interaction/comments in this regard.
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Please respond for Global peace and betterment.

Thanks for paying attention. I am furnishing herein below arguments about how e currency in electronic currency system devised by me (Ashish Sharma) in my book "has the time for electronic currency come" published in south carolina by book surge will tackle economic frauds and how government though having effective controls on money will not affect their liberty/ confidentiality:
A. about risk of being robbed:
1. In electronic currency system, there is no risk of being robbed/cheated because of the following reasons/checks:
(i) Unique Code: Every Electronic Currency Pad will be issued a unique code number unique to that pad. Unique code number issuance will be under strict government controls. That means there will not be any chances of making duplicate electronic currency pads. These unique codes will be generated by computers. Computer will track records of unique code number records to avoid happening of duplicacy.
(ii) Password Operating System: Owner of electronic currency pad will have the facility of password operating system known only to him.
(iii) Transaction Code: Every Electronic Currency Pad will, into their memory, be fed with computer generated transaction codes. Transaction codes designing will be such that nobody could predict next transaction code. These transaction codes will be periodically updated by banks and fresh transaction code series will be fed into the memory of electronic currency pad on exhaustion of previous issued transaction code series. This is just like issuance of cheque book by bank on utilization of earlier issued cheque books.
These above mentioned checks will avoid chances of being robbed/cheated. Still, if by any chance, somebody, due to coercion/undue influence or other methods rob/cheat a person, the cheated person can approach bank with transaction code details along with electronic currency pad. Bank can help in locating that person through transaction code. Here, I would like to state that Banks will have complete parallel records, they will also monitor computer generated reconciliation statement viz.,
(Unique Code of Payer ----Transaction Code -----Unique Code of Receiver)
This way Bank will come to know about every detail/address of every defaulter/transaction.
Any transaction code remaining unreconciled will prompt banker to ask from that one unique code holder about other person whether receiver/payer for better control.
Hence, chances of people making duplicate pads/robbery/other financial crimes will be controlled/avoided in electronic currency system.
2. Another thing that you have asked for is about governments taking advantage of the fact that many people are online which makes them easier to be tracked and monitored.
In India approx. 75% of the total money in supply is with banks. That means only approx. 25% of the total money in supply is in cash/unaccounted. I think in USA/other democratic countries also the figure would be approx. similar. In other words, in present paper currency system, government is having controls on 75% of the total money in India. Bank could finance only 50% of the total money deposited with them i.e., 50% of the money deposited is remaining idle with banks. That is money is underutilized resulting in dependency on other countries, unemployment problem, lesser per capita income/national income, lower rate of industrialization etc.
In electronic currency system, though Government can have full control, of course through banks, still people’s democracy(liberty) is not in danger. Government won’t have direct controls. Public will have full confidentiality about their money. Only in case of people involved in doubtful activities, Govt. can have their account details. That is still there in paper currency system, govt. do ask for/ even seize account details of people whose honesty towards society/country is in question. This electronic currency system will help government for better control to avoid financial/economic irregularities and terrorist activities. Besides, in present paper currency system, there are many economic diseases such as black money, inflation, financial crimes, bribe etc, Lot of money is flowing into terrorist hands annonimously. There is no way of knowing that who and how these convicts of global peace are being funded. Electronic currency system will solve all these present days problems. The prime thing about electronic currency system is that here money multiplies itself through income cycle creation. The greatest problem i.e., unemployment problem will also be solved because income cycle is created. Money can never be withdrawn from the system without hampering liquidity i.e., all the money will always be deposited with banks. I think, with the comparative advantages in electronic currency system, we should allow government to have limited access to have details of peoples accounts who are involved in anti social activities. For further details I request you to purchase this book from www.booksurge.com,
www.electroniccurrencytime.com. Author is Ashish Sharma Book is “HAS THE TIME FOR ELECTRONIC CURRENCY COME”
You can have access to a few details by visiting http://projects.takingitglobal.org/ecurrency

I have authored a book "Has The Time For Electronic Currency Come" published in South Carolina, U.S.A. by Book Surge. This Book is basically an idea/innovation about Electronic Currency System, a complete monetary system proposing to replace the present 'monetary' Paper Currency System.The more civilized, refined, analytical and scientific, that man became, the more refined, sophisticated, systematic and symbolic, became the form of currency. All that a primitive man needed was a hunting knife to satisfy his varied wants. Now that tool has progressed and evolved into the modern-day credit card, with which a man can buy anything he needs. The process of evolution continues into the future with currency changing as the times change.

The present world economic scenario strongly requires the development of alternate modes of currency as a medium of exchange which can match the fast paced, computerized economy. The future is thus in the use of handheld, electronic 'Cash Pads' which will replace paper currency for many day-to-day transactions.

Carefully developed electronic pads can control the happenings of fake currency, any many other type of fraud. It will also have the properties of better durability and dependability than paper cash. It can become true legal tender with almost no chances of black income. Practically every type of financial corruption can be avoided. Through this system, a monitoring body can have full control on the flow of currency (i.e., every deal can be accounted for). Electronic currency will certainly prove to be a scientific & technically competent mode of exchange.

THE ELECTRONIC CURRENCY PAD:
Electronic currency system can be operated through electronic currency pad to be issued to every citizen of the country. Electronic currency pad will be a small handy electronic instrument. This will have besides "on button", buttons from A to Z, Buttons from 0 to 9, payment button, bank payment button, receipt button, bank receipt button, search button and balance button with simple calculation buttons. These pads will have password operating system. Each pad will be assigned a unique code number for identification. These pads will also have screen, speaker, input-output sockets and a cord.

ELECTRONIC CURRENCY PAD
Electronic Currency will function on the principle that every deal/ transaction affects two sides, i.e., one is receipt other is payment (one is receiver another is 'giver', payment maker). This means that when one person is receiving from another, it implies that that another related person is paying. This is how the transaction will take place. Electronic Currency Pads will be fed, through Internet by banks, into their memory transaction codes issued exclusively for that particular pad along with all transaction codes issued to any electronic currency pad with in that country. These transaction codes will be computer generated which will come to be known only at the time of transaction. In this system, every financial transaction will be accounted and reconciled leaving no scope for unaccounted money i.e. black money.

HOW ELECTRONICS CURRENCY PAD WILL FUNCTION?
A. CASH TRANSACTIONS:
Assume X pays Y for some purchases. This transaction will be performed through X's electronic currency pad and Y's electronic currency pad. Here X is payer while Y is receiver. X, on his electronic currency pad, will first switch on by pressing ON Button then will plug cord's one end into his output socket. Y will plug other end of the same cord into his electronic currency pad's input socket after switching on his pad.
Now X will press payment button in his electronic currency pad. On pressing the payment button, immediately transaction code for the proposed transaction will appear in X's pad's screen. X will type the desired amount by typing related numbers under country currency mode and then press payment button. Y, on the other hand, will press receipt button. Now as X presses payment button, Y's electronic currency pad will depict in its screen the amount receivable along with X's transaction code. Now Y's electronic currency pad will verify for the validity of X's transaction code with the Y's electronic currency pad's memory. The memory of electronic currency pad contains, as already explained, transaction codes of the whole country issued to any electronic currency pad anywhere with in the country up to a particular period. These transaction codes will be fed by bank. Now if X's transaction code matches with the transaction codes in Y's electronic currency pad's memory, both X's and Y's electronic currency pad will be updated effecting the transaction. Both X's and Y's electronic currency pads will now be showing updated balance on pressing balance button.
On utilization of the transaction codes, fresh series of transaction codes will be fed into the memory of the electronic currency pad through computer by bank. System should be developed in such a way that transaction code series is periodically updated by the bank. That means electronic currency pad's memory should be periodically updated with transaction codes for smooth functioning. At the time of updating, bank will also update the electronic currency pad's memory with all the transaction codes issued to any electronic currency pad any where with in the country.

B. BANK TRANSACTIONS:
Another present form of payment is payment through bank that means through cheque. In electronic currency pad system, payment through cheque will be like this- X has to pay to Y through cheque. X will press 'bank payment' button on to his electronic currency pad. Immediately, on pressing bank payment button, bank transaction code will appear in X's electronic currency pad's screen. Now assume Y resides in distant place. In this system, X will intimate Y, his bank transaction code together with the payable amount through telephone, fax, Email etc. Y will press Bank Receipt Button on to his electronic currency pad. Y, on knowing the X's bank transaction code, will feed that transaction code into his electronic currency pad along with the receivable amount as conveyed by X. Now system should be designed in such a way that this Bank transaction will be treated as provisional unless updated by the bank. That means updating of Bank transactions, in this system will be effected and balance will be updated only by bank. In this case X will approach his bank intimating about provisional bank transaction, similarly, Y will also approach his bank with his electronic currency pad stating particulars of receipted bank transaction. Now both X's and Y's bank will clear this provisional bank transaction through normal bank clearing procedure and accordingly update, both X's and Y's electronic currency pads and account statement with bank, for balance. This bank clearing will be through Internet for speedy clearance. In this way, Banks can function smoother, efficient and faster. No cheque is to be written, all costs and time relating to handling cheques is saved resulting in quicker business deals with easy realizations.
Alternatively, Electronic Currency Pad can be designed to be operative without cord for electronic currency cash transaction. This improved device does not require input-output sockets also.

IMPACT ON THE ECONOMY
This system will help restricting inflation, all types of financial crimes, bribery, currency fraud, match fixing, terrorism etc. in this system, people will not have to carry cumbersome bags full of currency notes, using vehicles for transferring notes from one place to another place. There will not be any fear of getting looted or pick pocketed. There will not be necessity to pay for security of currency and to keep strong rooms for currency notes and to invest in big safe for keeping cash. People will not have to go through the mental exhaustion of counting notes at the time of withdrawal or deposits, taking fidelity insurance and cash insurance and at the end of the day physically verifying cash and tallying with the book balance.
Banks will find themselves in altogether different competitive economic environment. They will not have to beg for deposits as all the peoples' money will always be deposited with the bank. There will not be any need for printing chequebooks, drafts and other related stationery-reducing operating cost to the lowest. Transaction will be possible to any decimals. Minting, printing and paper costs of paper currency will be effectively saved.
Government will have sufficient finance available from internal sources for all kinds of Government expenditure including development expenditure. As all the citizen's money will always be with the banks without hampering their money transaction, banks will find themselves in a position to advance this money deposits to Government or needy people. Government will be able to incur this advanced money for development works and other expenditure. This incurrence of government expenditure will result in people getting increase in their income. This will automatically result in increase in bank deposits for the people. This increased bank deposit base will again enable banks to advance finance to Government and the needy people. This way government will again be in a position to get finance for development works resulting in people getting increased earnings. This process will keep on repeating, resulting in creation and rotation of income cycle making people and ultimately the country richer and self-sufficient. This will also have positive impact on unemployment problem. This can be illustrated as :Let G stands for Government, B stands for Bank and C stands for citizen of country. This is already stated that all citizens'/ Govt.'s money will always be deposited with Banks. Now let us assume to begin with that citizen's have 1000 units of currency as total money. In electronic currency system this 1000 units will always be with bank ie., money can never be withdrawn from the system. 1000 units of money is with Bank say B. As money can never be withdrawn from the system, Bankers will be in position to advance this 1000 units to Govt. /Public/ Business Houses for development/project installation etc. Now this advanced 1000 units will be ultimately transferred to citizens say C in return of the services/labor rendered by the citizens. As citizens will get increase in their earning. Their total money now will be 1000+1000 ie., 2000 units. This means 1000 units now has become 2000 units. As citizens money has increased to 2000 units and all the money will always be deposited with the bank without hampering liquidity of the money, bank deposits will also increase by 1000 units totaling to 2000 units deposit. This will result in increase in bank's capacity to advance money further by 1000 units. Now bank will be in a position to further advance this increased deposit to Government say G. Here is the formation of income cycle. Now this increased/further advance of 1000 units to Govt. will ultimately increase citizen's income by further 1000 units making their total money to 3000 units thereby increasing bank deposits by further 1000 units. This is rotation of income cycle. This process will keep on repeating rotating the income cycle resulting in increase in per capita income/ national income, solving unemployment problem etc.
This way not only electronic currency system can help prevent the various kinds of corruptions and crimes up to a certain extent but it can also help in economic prosperity and autonomy of the country.

In the end, I want to say that it is difficult to see the things clearly in horizon but I definitely see though with the weak eyesight that there is something called 'electronic currency' out there. I am sure that some one with the better vision and with the help of binoculars of computers knowledge will be able to tell the world a more spectacular narrative.

Through this work I request scholarly minds of economics and computer savvy brains to come forward and search the possibilities and the practicability of this idea i.e., 'electronic currency'. The book is available at www.booksurge.com, www.electroniccurrencytime.com,www.amazon.com. This idea has been given exceptionally 1800 words space in www.sliphead.com in place of their usual limit of 600 words. Also the world renowned Management Institute IIM, Ahemdabad (India) has selected this idea for further research. I INVITE INTERACTION/QUERRY IN THIS REGARD. THIS IDEA IS ALSO POSTED IN TAKINGITGLOBAL USER NAME "ASHISHMANISHA".