February 25, 2010
is it possible to make chip card or RFID card which will be a secured alternative for currency?
I am sorry that the essence of my question is not clear. What I mean is: with latest technology, is it possible to have an alternative for currency (I mean currency) which will be very secure. The currency that is impossible (or very hard) to duplicate.
Filed under Blog by on Feb 25th, 2010. Comment.
Leave a Comment
Comments on is it possible to make chip card or RFID card which will be a secured alternative for currency?
possible: yes, a lot of our money is fully electronic now anyways
smart: not so much, to fix any issue with security would result in a massive loss of freedom, getting a little too far into the realms of Huxley and Orwell
I believe in the near future we will have a totally cashless economic system. RFID technology will provide user interface with the system’s computers. Cards with embedded RFID chips will be used at first. However, cards cannot provide absolute security because they can be lost, stolen, or loaned to other people. ID theft would still be a problem with a card.
The solution to these problems will be to implant the chip in the person rather than the card. The chip then cannot be lost, stolen, or loaned. You can’t leave home without it.
We are much closer to this system than most people realize.
Yes, it is, and that basic technology now exists. The problem with it is, as is now an issue, it is no where near as secure as you would like to think that it might be. Hackers could still get your information, and drain off your money, just as they can now.Cash, just hard currency, with local transactions, is still one of the best ways to do things. .
No, absolutely not. There will be attempts, but for every try at security, there are a thousand folks out there trying to find a way around it. Your identity is not secure — start there. There is a continuous battle to prevent "malware" from infecting your computer. Yes, there will be attempts, but they are all destined to fail in the end.