gatzdon
Thats is probably a good reason for the change. They have been trying to use RFID technology and plan on doing it in the future, however the technology is not cost effective for a good implementation at this point.
The European Central Bank may
embed RFID chips in the euro note. Apparently up front to
combat counterfeiters and money-launderers, it would also enable banks to count large amounts of cash in seconds. Unfortunately, such a move would also makes it possible for governments to track the passage of cash from individual to individual. Cash is the last anonymous way to buy and sell. With RFID tags, that anonymity would be gone. In addition, banks would not be the only ones who could in an instant determine how much cash you were carrying; criminals can also obtain power transceivers.
Casinos are already using RFID techonogy (
http://www.news.com/Vegas-casino-bet...3-5568288.html) in the gaming chips and tokens and has provided positive results in their operations.
I have been selling and developing automatic identification systems for 17 years and this movement in the currency market would be very significant and has a lot of privacy issues attached to it.
Jeff
Hybrid Mode
