#ElevatorPitch #PitchYourIdea #WeeklyContest
E friendly cash by @ve1lj
Idea:
E-friendly cash introduces the idea of bills with built-in small scannable chips. It aims to make it easier for people to top up their bank accounts. The chip can be scanned using the special bank app on a smartphone. After it's scanned, a sum of money, that is equal to the denomination of the bill, is added to a person's bank account. The chip on the banknote becomes deactivated, and it cannot be used anywhere. So, the person has to return this bill to the bank.
Problems:
The small number of ATMs and the inconvenience of finding and reaching them when trying to top up your balance.
Potential:
This idea has a lot of potentials. Firstly, banks could charge a monthly fee from the clients for using it. Secondly, banks will definitely gain public exposure and popularity which will bring in new clients and more money. This idea would, of course, require some degree of government support, but the government can profit from it, too.
