Europe Adding RFID Tags to Euro Currency

Marc

Hunkered Down for the Duration
Staff member
Admin
#1
While this is a bit off the direct subject of Internet History, per se, I bet it's our future as well.

An EETimes article a few days ago reports that the European Central Bank is planning to add RFID tags to euro bank notes. This would allow each bill to be tracked whenever it is used, and if the chip includes writable memory, to even record its own history.

Discussion at: SlashDot
 
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Wes Bucey

Quite Involved in Discussions
#3
As I have written in other threads about RFID, this link http://www.frontlinetoday.com/frontline/ is to the industry Bible on Bar Code and RFID. I read it pretty regularly and I don't know of anyone yet making them small enough or robust enough to withstand handling when attached to currency.

There is a whole other issue of privacy. Many European countries using the Euro are much more privacy conscious than USA. If you had a bill with an RFID label, theoretically, you could be scanned from a distance (how far depends on power of equipment) and tracked, in addition to being able to tell how much currency you were carrying. How soon would it be before gangs of crooks acquired the scanners to spot cash-rich targets?

To my mind, the better ideal would be to issue "cash cards" to everyone. Something like credit cards, but no lag time in the transfer - just like cash.

Lots of utopian schemes for RFID, but very little actual coding/labeling of anything except crates and very high end consumer goods. USA is looking to label war materiel. Some companies are looking to label personnel. Go read some archives over there.
 

Marc

Hunkered Down for the Duration
Staff member
Admin
#4
If they do tag currency, I'd love to have the contract to provide them... What a contract!
 
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