S-Money, University of Cambridge, Professor Adrian Kent
Image Source: Investopedia

Researches from the university University of Cambridge have proposed a new type of currency by which the user will be able to make decisions according to the arrival of information at different locations and time which will save time, as well as the user, will stay safe from the computer attacks.

S-Money, University of Cambridge, Professor Adrian Kent
Image Source: Phys.org

The custom proposal is being called ‘S-money’ which is being said to be the safest and faster source of money transfer which accordingly responds to the user in comparison to the other online financial service providers, transiting the combination of the power of quantum relativity and theory. They claim that the technology is advanced enough to do business all over the Solar System and even beyond that which is weird to hear, fast transactions and transfers and taking commerce to a galactic scale. The technology can’t be tested under the present computer technology and the tests are scheduled for this year but on a smaller scale as under the Earth radius.

Professor Adrian Kent, from Cambridge’s Department of Applied Mathematics and Theoretical Physics, who has written the paper said, “It’s a slightly different way of thinking about money: instead of something that we hold in our hands or in our bank accounts, money could be thought of as something that you need to get to a certain point in space and time, in response to data that’s coming from lots of other points in space and time.”

The payment method is said to be done in tokens as they will be as secure as any other thing and will allow trading without any delays as well as, it will make sure that no one performs any double trading. Kent said, “Quantum money, insofar as it’s currently understood, would require long-term storage of quantum states, or quantum memory, this would require an awful lot of resources, and even if it becomes technologically feasible, it may be incredibly expensive.”

Tags: , ,
Micky, one of the associate writers at The News Recorder has been taking care of all the space related coverage. He loves to write about the latest happenings in space, and before joining The News Recoder, James was a part of the editorial board of a local magazine.