Abstract

This paper introduces “Digital Bill (DB)” as a solution to address concerns regarding money laundering, illicit activities, and the limited adoption of cryptocurrencies. DB is a digital representation of a bill of exchange that offers unique features to establish a secure and widely accepted cryptocurrency ecosystem. A notable aspect of DB is the inclusion of a distinctive issuing number for each digital bill. This ensures traceability and authentication, minimizing the risk of fraud and enhancing transparency within the system. DB incorporates robust cyber security measures, making transactions resilient against potential threats. It also provides resistance to inflation, offering users a stable and reliable currency unaffected by market fluctuations. Unlike traditional cryptocurrencies, DB does not rely on resource-intensive mining activities. Instead, it emphasizes the regeneration of private keys for enhanced security and protection against unauthorized access. To address concerns related to DEX hacking, DB incorporates advanced encryption and secure verification mechanisms. Additionally, it includes depository insurance and trust guarantees, fostering user confidence and trust in the DB network. DB enables instant currency value adjustment, facilitating seamless and efficient transactions. This feature enhances usability and convenience for users engaging in various economic activities including international trade. The proposed approach aims to instill trust in DB, alleviate concerns about investment losses, and encourage greater adoption of blockchain technology. It underscores the importance of global acceptance and highlights the unique issuing number of DB as a means to enhance security and authentication. In conclusion, DB presents a secure and widely accepted cryptocurrency solution. While further research and development are required, the unique features of DB provide a glimpse into the potential of a transformative digital currency that addresses existing limitations and inspires confidence in the cryptocurrency landscape.

Keywords: Cryptocurrency, Bill of exchange, Digital Bill, Minimize money laundering risks, Unique issuing number, Universally acceptance