Description

BREAKING NEWS- Gov. Ron DeSantis Signs Florida Digital Bill Of Rights Bill Into Law Section 4. Section 501.701, Florida Statutes, is created to read: 501.701 Short title.—This part may be cited as the “Florida Digital Bill of Rights.” leg.state.fl.us

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Google AI Overview

BI2 Iris scanning technology refers to the use of iris recognition, a biometric identification method that utilizes the unique patterns in the iris of the eye, to verify or identify individuals. BI2 Technologies is a company that produces mobile iris recognition devices used by law enforcement, among other applications.

Here's a more detailed explanation:

What is Iris Recognition?

Iris recognition is a biometric identification method that analyzes the unique patterns in the iris (the colored part of the eye).

These patterns are extremely complex and unique to each individual, even between identical twins.

The technology captures an image of the iris, and then a template is created from the image.

This template is compared to stored templates in a database for identification or verification.

How BI2 Technologies is Involved

BI2 Technologies is a company that produces mobile iris recognition devices.

These devices, like the MORIS (Mobile Offender Recognition and Identification System), are used by law enforcement to identify individuals during interactions or in situations where there is suspicion.

The technology can be used for both identification (one-to-many) and verification (one-to-one).

Applications of Iris Recognition

Law Enforcement:

Iris recognition can be used to identify individuals during traffic stops, investigations, or in correctional facilities.

Border Control:

It can be used to verify the identity of travelers and prevent unauthorized entry.

Access Control:

Iris recognition can be used to control access to secure facilities or restricted areas.

Criminal Justice:

Iris scans are used in some jurisdictions during booking procedures in correctional facilities.

Potential Concerns

Privacy:

There are concerns about the potential for misuse of iris recognition technology, such as over-collection of biometric data or its use on individuals without sufficient cause.

Accuracy:

While iris recognition is generally considered highly accurate, factors like lighting conditions or eye conditions can affect the quality of the scan.

Accessibility:

There are concerns about how the technology is implemented and whether it could lead to discriminatory practices.

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People also ask

What is the Federal Reserve elastic currency?

"To furnish an elastic currency" essentially means that the Federal Reserve is responsible for ensuring that there are sufficient reserves—cash in bank vaults and bank deposits at the Fed—to satisfy the flow of transactions in the American economy.

Elastic Currency: The Federal Reserve and the Payments System

Federal Reserve Bank of St. Louis

https://www.stlouisfed.org

Google AI Overview

"Federal Reserve banks to furnish an elastic currency" means the Federal Reserve was established to provide a flexible money supply that can automatically expand and contract to meet the demands of the economy. This ability allows the money supply to automatically increase or decrease with business needs, preventing the extreme economic gyrations caused by a rigid currency supply and ensuring the economy has sufficient cash to support transactions.

What an Elastic Currency is

Flexible Supply

: It's a currency volume that can fluctuate in response to business needs, rather than remaining fixed.

Demand-Driven

: The currency supply automatically increases when there is high demand for cash from businesses and consumers, and it decreases when demand falls.

Why it's Important for the Economy

Prevents Booms and Busts

: A rigid currency supply in the past led to wild swings between economic booms and busts. An elastic currency prevents this by ensuring there's always enough money to facilitate economic activity, even during periods of high demand.

Supports Transactions

: The Federal Reserve ensures there are sufficient reserves and cash in circulation to satisfy the flow of transactions in the American economy.

How the Federal Reserve "Furnishes" It

Rediscounting

: The Federal Reserve acts as a lender of last resort, providing funds to banks by rediscounting their commercial paper. This allows banks to convert their assets into cash and increases the money supply when needed.

Monetary Policy Tools

: While it doesn't directly print currency to put it into circulation in the way the U.S. government does, the Fed influences the money supply by changing interest rates and conducting open market operations, which adds funds to bank reserves and influences banks' ability to lend.

Public Law 63-43, 63d Congress, H.R. 7837: An Act to ...

Federal Reserve Bank of St. Louis

https://fraser.stlouisfed.org › federal-reserve-act-966

An Act to Provide for the Establishment of Federal Reserve Banks, to Furnish an Elastic Currency, to Afford Means of Rediscounting Commercial Paper.

The Fed Gives Its Elastic Currency Mandate a Stretch

American Enterprise Institute

https://www.aei.org › articles › the-fed-gives-its-elastic-...

“An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency….” (N.B.: This phrase begins a groundbreaking and ...