Objective
"The euro represents the largest currency in circulation in the world and therefore an attractive target for counterfeiters with both the number and sophistication of counterfeits increasing since the euro’s introduction in 2002. To fight counterfeiting, the European Central Bank has implemented strict requirements under the Banknote Recycling Framework which require that no counterfeit notes are re-circulated by cash handling devices. In Northern Europe, today approx 15 000 point of sales systems are already equipped with both coin and note recycler systems and market in Europe is at a tipping point where self-service and self-checkout systems are gradually gaining in acceptance as a mainstream retail technology. These systems, integrated with the proposed EUROTHENTIC Cash Checking Machine system, will enable efficient and secure recycling of money. The advantages for the stores are secure and lower cost for cash handling due to amount of cash in store is reduced and also back-office work and CIT will be minimized. This will also enable cash back function - consumers to be able to withdraw cash directly at checkouts. While automated systems for validating bank notes are currently available, they have yet to find wide acceptance in the retail sector due to high capital costs and in particular performance considered slow by the sectors standards. The EUROTHENTIC project aims to overcome the current technical barriers to wide scale adoption of cash authentication technology by creating a low-cost, retrofitable cash validating module. The module will have the capability for high performance note processing and image recording, intelligent image analysis utilising a neural network approach and secure networking to provide remote system updates and a database facility for the secure tracking of bank note serial numbers and other characteristics such as location and time."
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- engineering and technology environmental engineering waste management waste treatment processes recycling
- natural sciences computer and information sciences databases
- natural sciences computer and information sciences artificial intelligence computational intelligence
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
FP7-SME-2011
See other projects for this call
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Coordinator
4313 SANDNES
Norway
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.