Currency Recognition Using EAST for Text Detection and Tesseract OCR for Text Recognition

This research study presents a novel approach for detecting currency utilizing cutting-edge technologies such as the Efficient and Accurate Scene Text (EAST) model and Tesseract Optical Character Recognition (OCR). The EAST model is employed to identify text within scenes, whereas Tesseract OCR is utilized to effectively recognize and classify monetary units in real-time video stream input. The empirical results demonstrate the efficacy of the suggested methodology in discerning and classifying distinct monetary units, a pivotal necessity in diverse financial scenarios. The amalgamation of the EAST model with OCR can augment money identification technology, strengthening the dependability of financial services such as ATM operation and currency conversion and ultimately elevating consumer happiness during financial transactions.