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

Eugen Leitl eugen at leitl.org
Mon Feb 23 12:00:57 UTC 2004

On Mon, Feb 23, 2004 at 09:08:29AM +0100, Erik Starck wrote:

> I'm sure it's technically possible, but there are some privacy concerns:
> http://www.wired.com/news/privacy/0,1848,59565,00.html

It seems nowadays no one gives a damn about privacy concerns. We're sliding
down the slippery slope very nicely, with no backlash due to horrible abuse
yet apparent.
> And it's not just the chips that must work, the tricky thing is the 
> infrastructure to support them.

Counting banknotes via RFID (assuming, the error rate is low enough) can be
done by passing a wad of notes some 10 cm nearby the reader, at some 10-100
Hz reading rate. This might take longer with cryptographic authentication,
but then, consider the savings on time and loss in counterfeit currencies.

Verifying digital signatures is computationally cheap in principle.

-- Eugen* Leitl <a href="http://leitl.org">leitl</a>
ICBM: 48.07078, 11.61144            http://www.leitl.org
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http://moleculardevices.org         http://nanomachines.net
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