Prime Minister Modi announced the demonetization of 500 and 1000 rupee notes and these will be replaced by new notes of 500 and 2000 rupee denominations. There were several rumors that the 2000 rupee note will be coming with a nano GPS chip in it and it can be tracked from anywhere.
Nano GPS Chip (NGC)
RBI has released many details about the new 2000 rupee note, but there is no mentioning about a ‘nano GPS chip’.
Rumors about how the embedded NGC Technology Works
The unique feature of the NGC is it doesn’t need any power source. It only acts as a signal reflector. When a Satellite sends a signal requesting location the NGC reflects back the signal from the location, giving precise location coordinates, and the serial number of the currency back to the satellite, this way every NGC embedded currency can be easily tracked & located even if it is kept 120 meters below ground level. The NGC can’t be tampered with or removed without damaging the currency note
The truth about Nano GPS chip
We know how difficult it is to receive GPS signal just indoor our house or office. The GPS chip in our mobile phones are using a lot of battery juice, and sometimes we feel it is not powerful enough. Then how could a nano GPS chip, which needs no power at all can be tracked anywhere? it doesn’t make any sense. This nano GPS chip is claimed to send signal even “120 meters below ground level”. The only chips that can be powered by ‘reflective signal’ like RFID chips can transmit data only over a very short distance, it can’t even transmit data longer than few centimeters.
Here is what RBI has to say about the 2000 rupee note, this is the only thing that we should believe at least for now.
RBI issues ₹2000 note in new series pic.twitter.com/7Ob2j1t6Ab
— ReserveBankOfIndia (@RBI) November 8, 2016
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