Mohsin Mohammed Ali

Overview:
It is not an encryption technique or standard, rather a

digital cash system system which uses certain encryption methods for its process.
It is a patented invention by James J. Turk and Geoffrey

Turk as on Nov 9, 1999.

The main objective of the invention was to eliminate

payment risks related to electronic cash as well as traditional cash transactions.

Need for the emint system?

A system and method to allow gold to circulate as digital cash through the global computer network (internet) and /or private communication networks much like cash currently circulates in the physical world.

What is emint?
The emint is a computer and a communications system which creates, distributes and verifies the authenticity of ecoins, and which receives information from the storage sites regarding gold held there for storage and specifically identified for use in digital cash system.

THE EMINT PROCESS

Refer Page no. 8 of the pdf file (Emint in Detail) which I mailed.

Advantages:
Eliminates Payment Risks such as:
Problem of float- the amount of time the payee should wait for the

transaction to be processed. The fractional banking process- conventional banking process where the financial institution lends loan out from the deposits received. Fluctuating national currency values due to inflation and exchange rate variations. Anonymity on transactions to both parties with the help of blind signature encryption(the same way as of cash transactions). Use of Asset(gold) as the unit of accounts in place of liability(cash).

Disadvantages:
The value of precious metal(gold) also varies over period-The value of 1kg gold

while depositing and redeeming it later, might be different. Ecoins are not reusable. Huge database of ecoins records.

THANK YOU