2014/09/19

My Way News - License plate scanner networks capture movements
My Way News reports: "A rapidly expanding digital network that uses cameras mounted to traffic signals and police cruisers captures the movements of millions of vehicles across the U.S., regardless of whether the drivers are being investigated by law enforcement."

2014/09/18

My Way News - Apple locks itself out of devices with passwords
My Way News reports: "Apple has tightened its technological security so not even the company can pry into a password-protected iPhone or iPad, a move meant to reassure the millions of people who are increasingly storing vital pieces of their lives on the devices. [...] Like other technology companies, Apple is trying to depict itself as a trustworthy steward of people's information after former National Security Agency contractor Edward Snowden leaked documents revealing government spies' efforts to snoop on emails and other personal information as part of an effort to identify potential terrorists. Apple, like its peers, has lashed out at the U.S. government's digital surveillance programs and stressed that it isn't cooperating with any of the spying."

2014/09/12

My Way News - Apple pushes digital wallet with Apple Pay
My Way News reports: "The technology company on Tuesday introduced a new digital wallet service called Apple Pay that is integrated with its Passbook credential-storage app and its fingerprint ID security system. [...] So-called mobile proximity payments are expected to grow exponentially over the next few years. [...] Apple said department stores like Macy's and Bloomingdales, drugstores including Walgreen's and Duane Reade, and other stores including McDonald's, Staples, Subway and Whole Foods are participating in Apple Pay."

Comment: It will be interesting to see if this becomes a popular method of payment or merely a novelty for trendy urban hipsters. It could certainly be an important milestone on the way to a cashless society. One important thing to note, for our purposes, it's just a domestic product, U.S. only, not an international product. That could change, of course, and I'm sure Apple would love that. Critics would probably point out that that consumers in Asia (particularly Japan and South Korea) have been paying with their phones for quite some time, so you could say the U.S. is finally catching up. Still, there is no global standard for NFC and mobile payments and that's really what we are looking for.

2014/09/02

Ecuador heralds digital currency plans
AP reports: "Ecuador is planning to create what it calls the world's first digital currency issued by a central bank, which some analysts believe could be a first step toward abandoning the country's existing currency, the U.S. dollar."

Comment: It's always interesting when the world gets a new payment system, but this is a very new development, it will need lots of work to be implemented and become trusted by the people of Ecuador. Still, if it works, promoting digital currencies could be an attractive nationalist alternative to developing countries chafing at the restrictions placed on them by the current international financial system.