Dynamic intelligent currency encryption

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Dynamic intelligent currency encryption (DICE) is a technological concept designed to enhance the security of paper currency. The system tracks and monitors banknotes in circulation using identifiable characteristics, allowing for the remote devaluation of banknotes involved in fraudulent activities or criminal transactions. Developed in 2014 by the British-Austrian technology company EDAQS,^[1][2] DICE involves the use of Machine Readable Codes (MRC) or radio-frequency identification (RFID) tags embedded in banknotes. These banknotes are then registered to a centralized system to increase security and reduce the risk of forgery tags. These banknotes are then registered to a centralized system, purportedly rendering them secure and resistant to forgery.^[3]

The primary objective of DICE is to engage the banking and retail sectors in a system where cash circulation is passively monitored and controlled. Additionally, DICE aims to serve as an alternative to the complete elimination of physical currency, offering benefits similar to a cashless economy, such as reducing cash-related crimes, without entirely removing cash from circulation. ^[4]

DICE has similarities to Intelligent Banknote Neutralisation Systems (IBNS). Banknotes neutralized under the DICE system are intended to be permanently withdrawn from circulation and can be linked to specific criminal incidents.^[5]