A new roadmap on sandbox

One of the big bank companies released their roadmap on cash cards.

Biometrics centrepiece of new Visa security roadmap

They describe an upgrade to the  chip card, with biometrics. The chip is an attempt at counterfeit proof, it can hold static keys. Biometrics solid, and fingerprint plus laser veining is popular (what did I say?).

It is not an active, intelligent chip. It is essentially a cold key storage, activated on demand by biometrics. But we can add a battery.

Tokenization is their game, clear the token with central clearing.  The crypto is the card, it has an encryption of you, your print and vein, and can always make sure you were there at the time.

All of this is great, we just want to make the counterfeit proof chip active, and give it a few protected protocols, like honest cash accounting. Is that taking it too far? No. What visa wants is a secure static key. But, by reduction, a secure point can include an honest cash accounting protocol.

So, lets encrypt a cash limit on our cards, then let us power the thing up and guarantee proper cash accounting.  Crypto becomes the watermarks on cash, we promise to erase them on spending.

We have reduced the Visa three step to a point to point two step. But in the process, we have opened a huge array of markets for Visa to set up intelligent, automatic exchanges. A fair deal, all in all.