Saturday, January 15, 2011

Flushing Counterfeit Money

Observation:

Counterfeit currency has lately become a big problem in most countries, including India. Although there are a number of signs that can be used to differentiate between counterfeit and authentic currency, it is not easy for the common man to check each currency note during a transaction. Advancement in technology has made the difference between the two quite small, making it even more difficult. However, existence of counterfeit money in the markets for any economy is of great concern especially if it finds its way in the banks.
Suggestion:

In order to flush out counterfeit currency from the system, the government will have to take multiple measures:
  1. The first step should be to give all banks operating within a country a time frame within which each bank has to check every bill note it has in its cash reserve for authenticity using specific devices.
  2. The amount of counterfeit currency in each branch should be reported to the Government which will then look at tracing the funds and / or writing off the cash
  3. Each bank has to ensure that all incoming cash deposits are also checked for any anomalies using the CVPS machines.
  4. Establishing the amount of counterfeit currency in each bank would help establish the cities / areas which have been affected more and have perhaps become the centres for fake bill circulation. This would in turn help the police to nab those behind the entire operation.
  5. At the same time, currency scanners should be made a mandatory requirement for all shops having a license to operate all over the country
An intensive screening is required to first flush out existing counterfeit bills and subsequently make sure that fresh counterfeit currency is not able to enter the system.

Tuesday, January 4, 2011

Protection for Fractures

Observation:

You are back from the hospital with a fractured wrist, arm, ankle or leg and a plaster cast. The cast has to stay on for several weeks and you must not get it wet! Problem : how do you keep yourself clean? Have you ever tried showering with one arm /leg out of the way of the water jet? Its almost impossible, and too much trouble.


Suggestion:

The easiest solution is to have a protection similar to that of a shower cap, so that the plaster does not get wet. However, that is easier said than done. A simple contraption that can be made at home would involve wearing a plastic bag with a rubber band to hold it in place. However, there are chances that some water will still seep through. Brown Medicals have thus come out with a product called "Active seal-tight waterproof cast covers". It works by stretching elasticated material over the plaster cast ensuring that a watertight seal is formed over the cast allowing people to have a normal shower. The only drawback: PRICE ! (The Active seals are priced at approximately $30)


Given that most people have at least one fracture in their lives, we can establish that there is enough demand and hence market for these waterproof covers. Manufacturing them cheap (in places such as India / China), could be an easy way to flood the markets with the product not only ensuring it is a big success, but also helping people live a normal life even with a cast on !!!