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RFID Tags in Euro Banknotes
psychictv writes "CNET News.com is reporting that Euro notes could be embedded with RFID tags in the future. 'RFID (radio frequency identification) tags also have the ability of recording information such as details of the transactions the paper note has been involved in...'" The EU has been considering this for a while. You'll never even know they're there.
science is a religion
"RFID (radio frequency identification) tags also have the ability of recording information such as details of the transactions the paper note has been involved in."
I think you'd be hard pressed to find an RFID tag that could record transaction information inside a bill. You'd need an external device to do the recording.
That would make robberies pretty pointless. If your cash register knows what money is in it, you can press the button to say "it was all stolen" and then no other connected cash register will accept that money anymore unless you get it authenticated by the police or whatever... I can see many massive misuses, but there's also a lot of potential good uses...
Daniel
Carpe Diem
According to this doo-hickey here, you've got money in your shoe too...
You're only jealous cos the little penguins are talking to me.
They'll never notice that you've taken them out.
Micrrowave your cash today!
You think that I'm crazy, you should see this guy!
"RFID tags also have the ability of recording information such as details of the transactions the paper note has been involved in.
Wonderful. Now how am I supposed to buy porn? Can't use credit card, it gets tracked. Can't use cash, it gets tracked. And with the price of porn these days, who's strong enough to haul around that much change?
Why bother? Why not push for full digital convergence and have everyone use EFT for ALL transactions? We're headed that way anyway, I haven't used paper cash in nearly a month now for anything.
I have no tag line
"Well, I see you picked up this 5 Euro note as change for your purchase of Zovirax on May 12th at the BogoPharm pharmacy on the South Side. You know, you really should be more careful about who you sleep with, Mrs. Zambezi."
- Hail to our fearless misleader! Fool speed ahead!
European Drug Distributor: Hello, Mister Colombian Drug Lord. Here is the money, I promised you.
Drug Lord: Hola, my French friend. I assume you've prepared the money as I specified?
Distributor: Indeed! Not only are these new notes, freshly received through my cover business, but they have been washed in muddy water, microwaved, and then dried in my daughter's basement.
Drug Lord: Ecellent! Here is the ten kilos of my finest cocaine. Good day to you!
Yeah, a real drug transaction isn't going to go nearly like this, but having the money check what kind of transactions its going through isn't going to work if there is *any* kind of money laundering going on and if *any* kind of competant disabling of RFID tags takes place.
The next Slashdot story will be ready soon, but subscribers can beat the rush and slashdot the links early!
Strippers, hookers, drug dealers, public utilities, congress persons, ...
See the connection?
You can get rfid tags with storage capability. Think you can get tags with about 4kb of storage right now.
Check the faq at rfid.org
How small a thought it takes to fill a whole life
There is no valid reason for tagging the money, since anyone who wants a transaction trail could use an e-cash card.
The Powers are going to eliminate the cash economy. Period. Nothing and no one escapes the net.
We are entering a prison like no other in history, for it will be the entire world.
So, my question is, if RFIDs are to be embedded in money, will it still be accepted if the RFID is off or not working. Will you have to take it to a bank (hassle) and get the whole note replaced or REactivated?
I would think people that work in highly magnetic work conditions or that are subject to mild radiation (cell phone users, utility workers, possily computer users) might face this problem.
Yell & scream & rant & rave... it's no use... you need a shaaaave ~ Bugs Bunny
Remember back in 1999 when people were talking about how the Y2K bug would result in society reverting to bartering & precious metals currency?
I wonder if eliminating cash as a nontraceable currency will prompt the emergence of additional non-fiat currency preferred by the privacy-conscious.
I can hear it now: "That non-DRM PC will cost you $3000 credit, $2900 cash, $600 in gold, or 10 cartons of banned cigarettes."
This is a good thing... for the US!
Before the Euro, the international black market dealt mostly in American currency. Part of the reason for that is the fact that it behooves the US economy's controllers to have large amounts of it's currency base outside of the country. (Think about it. Print more money, buy 'things' with it, make sure monies paid leave country. Monies are not local to the economy, so inflation does not increase. Oversimplified, yes, but I'm making a general point here.)
The Euro was a threat to that black market monopoly. A strong Euro would be serious competition, and would likely drive at least some of the US's expatriated currency back within its own borders, wreaking havoc with the economy.
With the advent of tracking capabilities in the currency itself, the Euro is keeping itself out of the black market, which is good for the United States.
Europe had a chance to take a bite out of US hegemony. So much for that ^_^
GeekNights!
Late Night Radio for Geeks!
If you buy that much pr0n, I bet you have at least one arm strong enough to carry the change.
I want to drag this out as long as possible. Bring me my protractor.
Now people in the EU will know who to sue when they get testicular cancer from all the Euros in their front pockets.
RFID chips are passive devices that respond when a reader transmits a certain RF code. The RFID chip uses the energy from the "ether" to respond. If anything, an RFID will absorb a small amount of radiation and convert it to heat, not the other way around.
You'll probably get cancer from having a cell phone strapped to your waist long before you get it from an RFID chip.
"I have never let my schooling interfere with my education." - Mark Twain
That would make US dollars a lot more popular in some important quarters, which the EU doesn't want. Therefore, I predict that the Euro will get these embedded tags only after the U.S. starts seeding them into its own currency. The desire to create a "cashless society" here, and eliminate untraceable commerce, has a long and sordid history.
The problem with embedding these things is that they're easily fused, so banks would also need to start refusing fused notes, and people would have to start carrying detectors because they might otherwise end up with undepositable paper. The alternative is that fused notes are still negotiable, but then they would all get fused in short order.
Encrypt the bill's serial number with the treasury dept's private key?
Seems like that'd be pretty effective...
Of course, they can't possibly make this a *required* feature of all bills. You have to be able to microwave the money and still use it, otherwise y'all Europeans will start screaming bloody murder.
The privacy invasion happens when you aren't paying attention: When you don't realize that your subway card placed you at the scene of the crime, or whatever. As they gain more and more surveillance techniques, eventually it'll be impossible to pay attention to all of them.
There are no trails. There are no trees out here.
This could destroy thieves and black markets.
You misspelled "personal privacy of any kind".
As a point of information, the laws of the European Union and its constituent states are in general vastly more protective of individual privacy than those of the United States and its constituent states.
The EU's privacy laws were considered so restrictive to trade by the United States that they actually came up at the World Trade Organisation talks. The outcome was the "Safe Haven" registration system for US companies wishing to store data on EU citizens.
There are some exceptions (notably the United Kingdom), but in general one's privacy is more protected considerably more by EU law than by US law.
Neither protection excuses you from the necessity to provide your own privacy, should you desire it, of course.
Speaking of, do you have any good info on how they work? Some tech docs or something?
Here's a good primer, if you can read a PDF.
In general, go to RFID.org for some good introductory stuff, and they have links to other resources.
RFID tags are cool, and they're definitely the future, though I understand why some people are worried, and we do have to deal with those issues. We got our dog from the humane society, and she was RFID'd with a chip that they can use to identify her if she ever gets lost. It's implanted under her skin, and it's only about the size of a grain of rice. There's no reason why it couldn't be implanted into human flesh.
"I have never let my schooling interfere with my education." - Mark Twain