Dynamic intelligent currency encryption

Dynamic Intelligent Currency Encryption (DICE) is a technological concept proposed to enhance the security of paper currency. It aims to track and monitor banknotes in circulation by utilizing identifiable characteristics, allowing for the remote devaluation of banknotes implicated in fraudulent activities or criminal transactions. Developed in 2014 by the British-Austrian technology company EDAQS, DICE introduces a security system wherein banknotes are equipped with Machine Readable Codes (MRC) or Radio-Frequency Identification (RFID) tags. These banknotes are then registered to a centralized system, purportedly rendering them secure and resistant to forgery.

One of the primary objectives of DICE is to engage the entire banking and retail sector in a system where cash circulation is passively monitored and controlled. Furthermore, DICE aims to provide an alternative to the complete abolition of physical currency. It proposes to offer the advantages of a cashless economy, such as reduced instances of cash-related crimes, without eliminating cash entirely.

DICE shares similarities with Intelligent Banknote Neutralisation Systems (IBNS). Banknotes neutralized under the DICE system are intended to be permanently withdrawn from circulation and can be explicitly associated with specific criminal incidents.