[10450] in cryptography@c2.net mail archive
Re: Where's the smart money?
daemon@ATHENA.MIT.EDU (Steven M. Bellovin)
Mon Feb 11 21:23:00 2002
From: "Steven M. Bellovin" <smb@research.att.com>
To: "Trei, Peter" <ptrei@rsasecurity.com>
Cc: cryptography@wasabisystems.com,
"'Matt Crawford'" <crawdad@fnal.gov>,
"'Scott Guthery'" <SGuthery@mobile-mind.com>
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Date: Mon, 11 Feb 2002 18:43:49 -0500
Message-Id: <20020211234349.954887B5D@berkshire.research.att.com>
In message <F504A8CEE925D411AF4A00508B8BE90A01E90C2C@exna07.securitydynamics.co
m>, "Trei, Peter" writes:
>That's the scenario which is (semi) worrying. As
>the tagged bills wear, some fraction of the RFID
>transponders will inevitably fail. When this happens,
>is the bill declared invalid? Will merchants regularly
>check all incoming cash for a good tag? Is a bill
>with a bad tag presumed to be counterfeit? Can
>it be exchanged?
>
I can't speak for other countries, but the U.S. already has
well-defined procedures for trading in damaged currency. For example,
if you have >3/5 of the bill, you get full value; between 2/5 and 3/5,
you get half-value; below that, you get nothing. I believe that such
exchanges can be done at any bank, though I could be wrong about that.
Anyway -- I'd assume that similar procedures would be put in place for
tagged bills. Validation might inlude a waiting period to see if the
tag corresponding to that serial number shows up.
--Steve Bellovin, http://www.research.att.com/~smb
Full text of "Firewalls" book now at http://www.wilyhacker.com
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