Kill Cash with Low cost portable wallet for peer-to-peer offline instant payments and receipts in regulated currencies using cryptography technologies by RAGHAVA SURESH from india

Existing electronic payment mechanisms have limitations like infrastructure required to accept payments, cost of transactions and minimum limits for transaction amounts. Due to these limitations, cash and coin transactions will continue to play a major role in transactions. Crypto-currency technologies have shown potential but their complexity, speculative nature, lack of regulatory backing will prevent mass adaptation. “Low cost portable wallet for peer-to-peer offline payments” is to banking industry what “driver less cars” is to automobile industry. Low cost electronic peer to peer offline instant payments and receipts in regulated currencies will transform the way financial transactions are conducted. Such technology has the potential to completely eliminate the cash and coin transactions, if supported by regulatory backing. This technology also has the potential to significantly improve the financial inclusion.

As the focus of this idea is product innovation, pictures and text have been used to describe it. Happy to work with sponsors team to enrich the idea.