Editing 2335: Photo Deposit
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==Explanation== | ==Explanation== | ||
− | Some mobile banking apps allow users to deposit {{w|Cheque|check}}s through the app | + | {{incomplete|Created by a BANKNOTE PHOTOCOPIER. Please mention here why this explanation isn't complete. Do NOT delete this tag too soon.}} |
+ | Some mobile banking apps allow users to deposit {{w|Cheque|check}}s through the app. The comic parodies this by "depositing" cash via a mobile app. This leads to duplication of the money, since you could then spend the bill and still have its value (in your account). Checks cannot be duplicated by this method, as a check is, in some ways, an instruction for one bank to send money to another. | ||
− | + | The title text states that the app recognizes the {{w|serial number}}s on the bills and prevents users from depositing them multiple times. It is unknown if multiple users can deposit the same bills. If multiple users are allowed to deposit the same bills, then widespread fraud would certainly occur from users attempting to collaborate by sharing bills. It is possible that Megan and Cueball are attempting this given their close proximity. If users are not allowed to deposit the same bills, widespread frustration would inevitably ensue as users would be frustrated to learn that they could not deposit many of their bills. Thus such a system would run into trouble either way. Furthermore, even with a user being unable to deposit the same bills twice, they will still double the value of their cash, as they have a spendable copy of it in their account and they still have the original which could be spent outside the bank system. | |
− | + | In addition, the system would be highly vulnerable to {{w|Counterfeit money|counterfeiting}}. When depositing or paying with cash, the texture of cash is different from normal paper and therefore is a method to detect counterfeits. (In the U.S., bill are made from a sort of cloth. Other nations such as Canada and the U.K. have started introducing plastic banknotes. Australian banknotes have been plastic for 30 years.) In contrast, the low-resolution camera of a smartphone could be fooled by a printed image, or possibly even an image on a screen, effectively enabling an attacker to clone an arbitrary banknote without actually possessing it. With image editing software (and reprinting, if the app will not accept a screen image of a bill) it would be possible to deposit a large number of bills. However, this would not allow a single person to destabilize the economy. ([https://what-if.xkcd.com/23/ WhatIf #23]) | |
− | + | Ironically, if everyone was honest, did not counterfeit, and did not spend money that they had deposited, then consequences might be even worse. Banks would be able to dispense the deposited cash to other customers, and the {{W|Bureau of Printing and Engraving}} might not be able to print new (legitimate) cash fast enough to keep a sufficient supply in circulation. | |
− | + | ==Transcript== | |
+ | {{incomplete transcript|Do NOT delete this tag too soon.}} | ||
+ | :[Megan is holding a (cash) bill in one hand, and is taking a picture of it with her smartphone with her other hand. Cueball is holding a (cash) bill in one hand, and is looking at his smartphone in his other hand.] | ||
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:Cueball's phone: Deposit accepted! | :Cueball's phone: Deposit accepted! | ||
− | + | :Megan's phone: click | |
:[Caption below panel:] | :[Caption below panel:] | ||
:After a lucrative six hours for us, our bank removed the new feature in their app that let you deposit cash by taking a picture of it. | :After a lucrative six hours for us, our bank removed the new feature in their app that let you deposit cash by taking a picture of it. | ||
{{comic discussion}} | {{comic discussion}} | ||
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[[Category:Comics featuring Megan]] | [[Category:Comics featuring Megan]] | ||
[[Category:Comics featuring Cueball]] | [[Category:Comics featuring Cueball]] | ||
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