CONTACTLESS FRAUD How would we protect money if chips were inserted into our skin?
A new range of anti-fraud purses and wallets feature a Faraday cage effect to block unauthorised remote reading of crefit and debit cards.
The problem of digital fraud will only increase as the push continues in places like the UK, Australia and Sweden towards fully cashless systems.
Some leaders in finance, economics and technology advocate a further iteration of cashlessness in the form of subcutaneous microchips or inbuilt RFID devices.
Would these then require that all clothing and equipment contain Faraday-like designs to protect us from digital debt?
There is no need for panic here, but we need to start thinking now, in a much more rigorous and less fatalistic way, about where the push for cashlessness may lead us.