1) It is NOT a credit card
2) It is NOT an ATM card
3) It is NOT a debit card
Look at it again, more closely...
1) It has displays no account name
2) It displays no account number
(the tracer number means nothing to anyone except the card maker)
I will only present that which was presented to us the attendees of this major computer conference/show case held during November in Las Vegas, Nevada. I will not try to prophetically tell you the future. I will let you let you draw your own conclusions, if you wish to do so.
The above is scan of a card given to each attendee that sat in a program presented by 1st eTech, a Internet firm concerned about on-line purchasing security. Credit card fraud and theft is approaching nearly 60 Billion Dollars per year on-line. I will avoid the technical jargon and explain how this card works both on-line and off-line.
First thing to notice is the card has no name or account number on it. Thieves can't access this information since it is encoded on the embedded computer chip (using military e-5 encoding, the highest level available today) That computer chip is the square gold box to the left side of the card and can contain 500 times as much information as the normal magnetic strip found on a credit card or ATM card.
This card is NOT a credit card (there is no credit advancement), it is NOT an ATM or Debit Card since it doesn't rely on cash (paper money deposits). In the computer Industry it is referred to as a "smart card". It relies only on electronic money transfer from another smart card There is NO bank account involved. There is No central depository. It totally electronic cash. It will do away with paper cash transfers entirely. Your employer will simply use his card to pay you (to your card) and the grocery store will simply allow you to transfer your "money" to their card in exchange for you food items.
This sounds pretty far fetched doesn't it? Well, it is ALREADY HERE. It has been tested in Europe and is being introduced to the USA right now. For example, We were told that the first smart cards would be introduced to the Las Vegas Market next spring, in March 2001. Notice that they are calling them Electronic Cash for the general public. The card readers are being made by Hitachi, the financial backing is from Mondex, a new division of Master Card. (Look at their logo on the card closely - looks familiar, doesn't it?)
Do they work? Yes, each attendee was given $10.00 to spend at special stores during the show. We were shown how to use them, and how to download more "cash" to them from another card to ours (like our employer would eventually do) We saw coke machines, parking meters, store readers all working. There are small hand held units for people like taxi drivers that do not sell their services in a store. There are wireless units that immediately transfer funds via cell phones. It was all there.
My wife and I bought lunch, used the coke machine and even bought a Christmas decoration at a special store with our smart cards.
We were warned that the card WERE CASH. A lost card equals no replacement. Same as losing paper money. The finder could not access the card (each has a personalized pin number) for the cash. (making thief of the cards useless)
Hope this information was of interest to you. It was to us. If you want more information, feel free to contact us. I have tried not to give too much technical information in order to make it simple to under stand. We were give lots more information.
Now draw your own conclusions:
Is the card a good idea?
If you answered yes to this question, please consider the these questions below. 1) Is it the start of a "cashless" society?
2) Does it give the government and/or financial institutions too much control over our lives and freedoms?
From a Biblical (Christian point of view) this might to a real sign of the end times as explained below:
.....so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name. Rev 13:17 (NIV)
Could the electronic cash be a part of this Mark of the Beast? (The beast according to most biblical scholars is a great world ruler yet to come)
It certainly could restrict the buying and sell of goods, especially in a "cashless" society.
He also forced everyone, small and great, rich and poor, free and slave, to receive a mark on his right hand or on his forehead... Rev 13:16 (NIV)
This would certainly solve the problem of lost electronic cash cards. (remember: they are money) we have been inserting computer chips in animals for Identification purposes for years. Would a future world government use this method for Identification, monetary exchange and control all at one time? (remember the smart chip can hold a lot of information)
Are you ready for electronic cash, it is coming soon to your neighborhood!
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