.. The ID Hurdle Before cash, checks and credit cards can be phased out completely, an absolutely foolproof identification system must be developed and implemented. Retailers must be sure that the person presenting a card for a transaction is actually the owner of that card. |
Various fail-safe ID systems have already been developed, like fingerprint and hand readers, retina scanners, etc. The problem with such machines is that they are extremely expensive. For a completely cashless society to work, there would have to be one at every little shop or retail outlet where goods are sold.
While such biometric scanners presently cost thousands of dollars, the microchips encased in plastic smart cards cost only a few cents each.
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