Sweden: Chip Implants Replace Cash

Image courtesy of Robert Nelson on Flicker https://www.flickr.com/photos/robertnelson/29620726791Swedish people are getting chip implants to replace cash -New York Post
"Thousands of people in Sweden are having futuristic microchips implanted into their skin to carry out everyday activities and replace credit cards and cash. More than 4,000 people have already had the sci-fi-ish chips, about the size of a grain of rice, inserted into their hands - with the pioneers predicting millions will soon join them as they hope to take it global....

They have particularly caught on, however, by enabling owners to pay in stores with a simple swipe of the hand, a big deal in a forward-looking country that is moving toward eliminating cash. The microchips were pioneered by former body piercer Jowan Osterlund, who calls the technology a 'moonshot' - and who told Fortune magazine that he's been hit up by hopeful investors 'on every continent except Antarctica.'...Osterlund insists the technology is safe - but that has not stopped alarm bells from ringing, with some fearing a link to a doubling in cybercrime in the country over the last decade....'People have shown they're happy to give up privacy for convenience,' he said. 'The chip is very convenient, so could we accept our data being shared very widely before we know the risks?' The trend coincides with Sweden's march toward going cashless, with notes and coins making up just 1 percent of Sweden’s economy."

Category: