MONEY TREES

In this opportunistic plan, we will be talking about the next 12 months moving on after Innovation Fest 2024. This plan will include our core values, profit/loss, monthly breakdown, quarterly breakdown, balance sheet and market research. The chosen for our project is an Automated money validator. This is an automated system that will allow business owners to verify bank notes entering their supermarkets. This will allow the supermarket owner to see if the banknotes are real or fake. A money validator is a device used to verify and validate currency, mainly paper bills, or bank; this is to prevent the acceptance of counterfeits notes. The Automated money validator will work by inserting the bank note into the money validator, it will then undergo a series of checks to verify its authenticity. If the bill passes all the validation checks, it is accepted as genuine currency, and the transaction proceeds. However, if the bill fails any of the validation tests, the validator typically rejects the bill, indicating that it may be counterfeit money with a red LED light.

UN SUSTAINABILITY DEVELOPMENT GOALS

Empowered and Driven:
Delivering Solutions for Global Issues

Goal 8: Decent Work and Economic Growth. Our product meets the 8th united nation goal, as we aim to avoid loss of economy for smalller stores. We aiming for economic growth this as our product will be more affordable leading to more profit. Goal 9: Industry, Innovation, and Infrastructure. Our product meets the 9th United Nation Goal as we are creating a product to support small industry. This who our product is aimed at, supporting them in order to tackle fake notes being entered into their stores.

DESIGN STORY

Challenges

``One obstacle we had to get through was finding a mechanism that lets us scan a British note and find a way to tell the user if the note is real. ``

Solution

``Our proposed solution is to create a portable device that takes in British keyboards and determines whether or not they are real or fake. ``

Use Case

Our core value is that we want to prevent smaller supermarkets/enterprises from losing potential profits. We aim for customer/business satisfaction in having our money validator be cheap and reliable. Our vision is to see the reduction of fake notes in the economy. We hope that our product is accurate and read that it is a correct note or whether the note is incorrect.

TECHNOLOGIES

List of Essential Tools and Technologies

Arduino

THE PROCESS

PROTOTYPE DESIGN

Our Automated Money Validator (AMV) prototype combines innovative hardware components and Arduino technology to create a reliable currency validation system. Two black stepper motors for 270-degree rotation and two blue stepper motors for 90-degree rotation, all controlled by Arduino boards. These motors are strategically attached with custom-made attachments to handle the insertion and movement of banknotes. Furthermore, the AMV features two LEDs (green and red) for status indication, integrated onto a breadboard along with two resistors and a power block for efficient power management. An extra breadboard is included to facilitate any additional circuitry or connections required for advanced functionality.

PLEDGE

Impact on the market

The Automated Money Validator (AMV) presents a significant impact on the market, revolutionising the way businesses and financial institutions handle cash transactions. It may major impact for small businesses such as efficiency boost. The AMV streamlines the process of currency validation, significantly reducing the time and effort required for manual verification. This efficiency boost will allow businesses to process transactions faster. Another impact the product will have once on the market is its enhanced security. With its advanced authentication capabilities, the AMV provides robust protection against counterfeit currency. This heightened security feature reassures both businesses and consumers, trust and confidence in cash transactions.

RESULTS

FINAL PRODUCT

Our journey to develop the Automated Money Validator (AMV) involved a systematic process that integrated various technologies and tools to achieve our final product. Firstly, we began by conducting extensive research into existing currency validation technologies and market needs. Using tools like Arduino boards, stepper motors, LEDs, resistors, and breadboards, we created initial prototypes to test different concepts and functionalities. Currently we are at the stage of creating our AMW product by connecting the hardware components together.