Friday, November 15, 2019

Bearer digital cash sells the user

As smartphones begin using scanned IDs, skeptics cite glitches, misuse and a growing surveillance culture
Popular smartphones may be secure, but consumers are wary about extending that faith to other companies. As biometrics pop up in more locations, smaller or less reputable services will gather similar information with different levels of security. Earlier this year, fingerprints for more than a million people were found on a publicly accessible database, according to the Guardian.
People worried about biometrics are struggling with trust in the entire tech industry. The majority of adults in the United States trust tech companies to "do what is right" only some of the time, according to a 2018 Pew survey, compared with 25 percent who trusted them most of the time and 14 percent who hardly ever trusted them.
"I don't like the idea of a phone company having any of my biometric data," said Craig Craker, a writer from Idaho. "I'm sure all of that is irrational and that the phone companies already know everything about me, but I like being stuck in the past with some things."
This is a simple fix. 

If the user can carry around $50 in cash for use online, they will do so, repeatedly, until they lose $50 by theft.  $50 is a small risk, easily handled by the foundry which validates the processor. That plus some good counterfeit services.

Thumbprint micro purchases, instant, point to point transaction make the internet much more liquid, eliminates congestion.  Users will develop a sense of security along with ease of use.

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