Japan Wants Fingerprint Currency System Fully Unveiled by 2020


The war on cash is still growing around the world and the trend toward incorporating bio-technology and biometric ID further into our daily lives continues. With the U.S., Greece, Japan, and many other nations suffering worsening economic turmoil, it's assumed that sooner or later we are going to see many of the fiat currencies that we know come to an end. After all, thousands of fiat currencies have already failed throughout history and of those that remain we can see that many have already lost the majority of their purchasing power. If a new global currency is introduced, it's also expected that the system will involve or require some biometric ID for authorization and usage. There are many countries and corporations that are looking to use rfid chips and bio-technology and data identification with their programs and products, and recently Japan too announced that they would roll out a fingerprint currency.   

 

 

The new fingerprint currency system is going to have users register their fingerprints and other information at locations like airports, and then when they want to pay for any services all they need to do is scan their fingerprint. The program is going to start with foreign tourists being able to verify their identity by scanning their finger rather than pulling out their wallet. Also, currently where tourists are required to show passports in order to check into hotels, it's alleged that the government plans to substitute the new fingerprint verification in place of the passport check.

 

 

There are at least 300 shops so far that are going to be participating in the experiment, from hotels and souvenir shops to restaurants and other venues. Tourists will even be able to withdraw cash just by scanning their finger. The government has already said that they plan to slowly expand the program by next year to cover many other areas. They hope to have the system fully realized  by the year 2020.  

The data that is going to be collected will have the ability to elude to spending habits of tourists and it will analyze their movements while they are abroad. The data will also potentially be used to devise policies and tourism strategies for the tourism industry in the country. So far those who have used the system have said that they like the convenience of not having to pull out their wallets.

 

 

 

There have also been other advances in countries around the world, to have rfid chips and bio ID incorporated into a number of different applications. From exploring how it can be used to develop a new national voting system, to using it at hotels, restaurants, and to even get through the security door at work, it's clear that we will see more of this technology around us in the future.  








 

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