Feb 28, 2008

Growing e-money revolution in Japan

Japan is way ahead on the curve with e-money and wireless.   [source]

"Takeo Ogura walks through the crowded railway station in central Tokyo ignoring the people waiting at the ticket machines and heads straight for the ticket barrier, where he whips out his mobile phone and waves it over a card reader, which beeps as he passes through."

"There are causes for concern, most specifically security. "If I lose my phone then it would be like losing my money," said Kenji Kato, who works with computers.

To address these concerns, several mobile phone providers have introduced biometric security measures including finger print, facial and voice recognition, which are needed to activate the phone."

I think that we are seeing the first wave of the future happening in Japan.  Physical money will be part of history.

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