… We wanted to create a full ecosystem.
If you think about a wallet, someone can steal that.
But no one can steal your hand, he said.
The aim is to have this accepted as a standard so well be releasing this as open source.
To transfer data, RFID chips use electromagnetic fields.
The cards, for example, used to get into some offices use RFID.
The video demonstration of Lanhed shows that he himself selects the amount of money to transfer.
Now, one just hopes that the grocery stores and DMVs catches up with the hardware.
We arent going to have wallets full of pieces of plastic in 20 years, Ortiz told Mic.
Its the 21st century and we still carry wallets.
source: www.techworm.net
