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 <bolgspot.com> 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 It need to be equipped with the internet connection (already there) so the money can be transferred (deposited and withdrawn) online from the persons bank account to the NFC and vice-versa, while its transaction data details gets downloaded and recorded in the banks digital data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 <blogspot.com> - 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”.
My Other Blog-sites:
IT To Root-out Corruption
Drunk Driving DUI Root Cause
Alcoholics Cure well