Saturday, 16 April 2011

NFC Mobiles Replacing Cash In The Near Future

(This Lattest revision:  19th April 2011)

In the  recent years  2011 in particular,  we are getting frequent news reports, articles about the Near Field Communication (NFC) technology equipped mobile phones entering into the market in a big way posing as the most efficient alternative to the century old traditional CASH money (currency) payments.  However people are not much aware of its great potentiality in completely getting rid of  most economic as well as the violent crimes (many may think  on the contrary). In my paper  titled “ IT To Root-out Corruption” written in 2008 I strongly argue that the electronic money transaction technologies like NFC can totally enable the world Governments to completely get rid of all sorts of economic crimes  popularly known as corruption (basically illicit money transactions) along with other violent crimes, only if there is the political will to get it done.

My paper “<IT To Root Out  Corruption>” now in  <>  talks highly about the “Near field Communication” NFC chips in the future cell phones and its great hope and importance to society to get rid of almost all economic crimes.  In the coming years the  NFC gradually going replace the Cash money and eventually can completely get rid of  it in the future. It is necessary that the devices (cell-phones) having NFC must also  importantly should have the Biometric Identity crucial for security reasons, it needs to have the Biometric Identity (thumbprint etc) as a pass word to activate money transfer or transaction.

The great security feature of the Bio-metric Identity in the NFC technology is that it will effectively prevent all sorts of cyber economic crimes like ‘electronic money’ pick-pocketing, theft, fraud  and importantly it will  protect  these  people from becoming target of  all sorts of  violent economic crimes like mugging, looting, burglary, robbery etc, even from getting murdered,  all those crimes mostly committed to ROB MONEY or to take revenge against it or to prevent it!  There should be a limit to the amount of money the NFC’s can hold and these cell phones, transactions of any sums exceeding a given limit should be conducted only via the one bank to the other bank. It need to be equipped with the internet connection (already there) so the money can be transferred (deposited and withdrawn) online from the persons bank account to the NFC and vice-versa, while its transaction data details  gets downloaded and recorded in the banks digital data storage. In short, all this will make sure that the electronic or digital money transaction becomes highly safe and secure  also every NFC money transaction between people, licit as well illicit  gets recorded in the banks  providing concrete evidence  of  any such economic crimes any times afterwards. This in turn will effectively deter  most people from indulging in  any kinds of corruptions and crimes as a whole.  

Hereby I request the readers please to help me in carrying forward the  information regarding this  most important anti-corruption feature of this  NFC  technology or the Bio-metric Digital Money  to  all those leading anti corruption concerns, people, agencies, organizations in order to get their most critical stand points, views, or opinions. One can see this article and its related many other articles in my other blog  <anticorruptionfight> at <>  - Valerian Texeira
This Lattest revision:  19th April 2011.

There are lots more of such NFC reports that one can find by searching in Google images for the word “NFC”.

Valerian Texeira
My Other Blog-sites:

IT To Root-out Corruption

Drunk Driving DUI Root Cause

Alcoholics Cure well

1 comment:

  1. Thanks for this article, It was a fantastic read which was extremely helpful. Anna Hazare anti corruption