Your diagram doesn't show how you'll be controlling or powering the motors. The 1047 only reads the encoders.
The 5V and G pins are outputs in case you need to attach limit switches or other small devices. It gets its power from the USB connection so you don't need to hook these up.
For our USB Phidgets, some customers have had power issues with the Pi's USB ports. You may want to use the VINT Hub and two ENC1000s instead, they're newer devices, lower power, and altogether less expensive.
I choosed the "HighSpeed 4-Input board" because the text "allow to read simultaneously several encoders"....
So do you think that I can do the same with following schema ?
