Follow The Money: Pros and Cons of Geolocating Currency

By: Nikki Williams

January 3,2017

First Impression: Tracking money would be a great breakthrough and will help the government a lot in catching black market transactions or illegally stored money.

Quote: "As time progresses, technology becomes increasingly valuable in both preventing crime an catching criminals once a crime has taken place."

Reflection

After reading the article I could say that tracking money would be really helpful for the government. Just like dark money and black money the government would be able to track them. And it could help them catch criminals that are doing illegal transactions and locate money that are stored by drug lords and be able to catch them. but having the RFID chips installed in currency would be really expensive to produce and that is why countries around the world are not able to do it.  When it comes to the privacy of having your money being tracked by the government. I don't see nothing wrong with it. since the money we have came from the government and they have all the right to do whatever they want with the money. and besides peoples location are not that private anymore. most of the applications and social media accounts we use know our location just like our smartphones. 

5 Things I've Learned 

1. The first bank opened in the United States in 1791.

2. The first bank theft happened in Pennsylvania in 1798.

3. Currency can be tracked by the government.

4. Black Money are earned through illegal activity.

5. RFID chips were invented in 2013. 

5 Integrative Questions

1. Why did the United States opened the first bank?

2. How did the 1798 Pennsylvania bank theft happened?

3. Why do government track currency?

4. Where are Black Money being stored?

5. What are the benefits of RFID chips?