eMINT Design
Many questions arose in how the eMINT programs handles Digital Currency portfolios. These questions are linked to:
a) Central Bank protection against digital crimes by unauthorized users (or cyber criminals)
b) users spending visibility to the Central Banks enrolled in the eMINT program.
Central Bank Protection
One of the pillars of a FIAT currency is the TRUST the users and related intermediate organizations, like banks, have in the currency.
Therefore Central Banks have defined and implemented a wide range of conditions and related procedures to ensure the bank is protected against criminal misuse. Protections against falsifying bank notes and executing improper electronic money transfers are just some examples.
These protections are also applicable for the eMINT program(s) to ensure that Central Banks are not exposed and can continue the operations without any interruption. Electronic Tracing methods are being used for security reasons to limit exposures. Approved Digital Currency balances will automatically put in “waiting for Approval” mode if tracing is unavailable.
Ultimate User validation are also key to protect the Central Bank against misuse. It also ensures that proper ASML conditions are met.
Users Spending.
Via the eMINT wallet users have the option to store the digital currency of their choice to their chosen electronic media. Electronic Media can be in “the cloud”, on portable devices, sticks or cards.
These Digital Currencies can have fixed or variable values.
Digital Currencies are linked to the Central Bank distribution channels and the appropriate control methods as per the Central Bank conditions.
The user decides to make the Digital Currency available to a separate Digital Cash ledger from where payments / transfers can be made. This Digital Cash ledger is not accessable / visible to the creator of the currency (Central Bank) so this prohibits the Central Bank to monitor / viewing spending patterns.
Additional information can be requested via email