Survey on Identification Of Black/Fake Currency Using NFC & Blockchain

Counterfeit currency is a hindrance to the economy. For the growth of the country’s economy there needs to be some fit approach to eradicate these counterfeits from the system. Iot devices are used in many applications to track and monitor, always collecting data. NFC is one such device that can be used for tracking the money that flows in and out of the system. This can be done by placing NFC chips on the currencies. Since 2009blockchain has gained tremendous momentum being used in various applications across different platforms. Blockchain has been a promising approach to securing your transactions on a decentralized database. This paper aims to understand these technologies and propose an approach using both these technologies to track the genuine currency from fake ones.