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How SerialPay sends money, verifies US bills by serial number, and keeps used currency out of circulation.
Open the Wallet app and tap the Scan tab. Center the bill so the serial number is visible, then tap Capture bill. SerialPay reads the serial number, checks it against the shared ledger, and tells you whether the bill is unused or already spent. You can also type the serial manually if the camera can't read it.
After you scan a bill and it shows as unused, go to the Send tab, pick the bill, enter the recipient's name or retailer, and tap Send and mark used. SerialPay records the transfer in the ledger so the recipient can verify the bill, and the serial is marked used so it can't be double-spent.
If a serial number has already been sent or accepted by a retailer, SerialPay blocks the transfer and shows a 'used' status. That cash cannot be used to purchase goods. The ledger stores the full history, so you can see when and where the bill was last spent.
Retailers use the Retailer app at checkout. They scan or type the customer's serial number. SerialPay accepts the bill only if it is unused, then files a report to the Federal Reserve and marks the bill as used. If the bill is already used, the terminal refuses it instantly.
The Reserve app collects every used-serial report filed by retailers. It shows the total value reported, the number of retired serials, and the source of each report. Reserve operators can set a disposition such as Circulation, Withdraw, or Counterfeit Review.
The SerialPay system is in demo mode. For a production deployment with a shared ledger across wallets, retailers, and the Federal Reserve, backend persistence can be enabled.