[extropy-chat] TECH: The future of cash?

[Harvey Newstrom]

Erik Starck wrote,
> There has been some discussion on embedding euro notes with 
> RFID tags to identify them:
> http://www.eetimes.com/story/OEG20011219S0016
> but I don't know if it will ever become a reality. According to the 
> article they should be here next year, but that doesn't seem 
> plausible.

Why not?  RFID chips are already in use today.  They are extremely cheap
chips that can be embedded in papers, and were originally designed for
supermarket pricing on can labels.  It would be trivial to add these chips
to any paper product (or anything else, for that matter).  

Furthermore, these chips were designed in conjunction with cash register
makers who want to build systems to automatically recognize goods and lookup
prices automatically.  Cash registers are already designed to work with
money.  There are probably cash registers already on the market that could
recognize RFID chips in money as well as in products and automatically price
the products, count the money, and dispense the change.

I see no reason why RFID chips couldn't be put into money within a year.  We
are already putting them in other paper products and already have cash
registers that utilize these chips today.  Many store distribution systems
already require RFID chips in the packaging, such as at WalMart, as do many
branches of the U.S. military.  These RFID chips are already in product
packaging and are already recognized by many markets and cash registered.

I don't see why they couldn't be added to money within a year.

-- 
Harvey Newstrom, CISSP, CISA, CISM, IAM, IBMCP, GSEC
Certified IS Security Pro, Certified IS Auditor, Certified InfoSec Manager,
NSA Certified Assessor, IBM Certified Consultant, SANS GIAC Certified GSEC
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