Written by: Lex Protector|September 25, 2018
Technology has solved many problems and one of them cash dispensing machine. Today, these machines can be found anywhere but there was a time when people used to go to bank and wait in long queues to get some money. Three inventors named T Barnes, G Chastain and D Wetzel realised this and came up with the idea of a machine which will dispense cash.
The idea is that the coded format in the credit card is evaluated couple of times by the machine. When checks of the credit card code is complete, the old code is removed and substituted with a new code.
The original code and the updated code are scrambled in accordance with a changing key. Scrambling the credit card code after each use minimizes the chance of unauthorized use of the currency dispenser.
When the checks are complete a storage container for the packets of currency transports the required number of packets by a positive feed drive to a cash drawer.
The cash drawer opens to a detent position which allows the customer to then move the drawer to a fully open position to remove his currency.
They got patent over this invention in USPTO with patent number US3761682 on 25th September, 1971. As a reason of which we are honouring this revolutionary machine by making it our “Today’s Patent”.
By Lex Protector ')}
