Starbucks have came up with an ingenious way of marketing their brand and product and also in a way inventing a new way to pay for things. Smart Phones are getting smarter and smarter. The world knows that we can't live without them and they keep us connected with the world. More companies are hiring developer to create an application that will market their brand and I can tell you that from my own personal experience as a MIS Intern at Perry Ellis. Perry Ellis was developing an Iphone application so that users can view their store's inventory and have a store map that they can view including store hours. With the invention of this form of payment, companies will begin to accept this method and banks will follow suit possibly. Which could eliminate cash all together and reduce counterfeiting money. Banks have began to keep records of all their currency electronically and it has not been hard of to have a problem with miscalculations that went undetected. The only issue I could see with this new technology would be concerning the bar codes could be duplicated unless that issue has already been address and they have a way of encrypting such a bar code within their system. Since people have been stealing people's card number via the contact-less credit card by hacking an RFID-enabled credit card" that is broadcasting from the plastic card wirelessly. However, all these new applications in dealing with money is just another cool factor for consumers to purchase their products and use it. It will try to sell the concept of being very fast and convenient for oneself. Since everyone is moving towards smart phones it do lead to privacy issues for consumers if they keep all of their personal information on such a device and it gets into the wrong hands. Which that seems to happen quick a bit for some of us out there. Though smart phones are leading the way to enhancing our lives, it may not be the best way either.
-Dat
http://www.creditcards.com/credit-card-news/contactless-credit-cards-data-privacy-1273.php
Using my smartphone as currency, I think would put me in line with the cool kids, but it’s better to be safe than sorry. I agree that our handheld devices are making way for new and interesting technology, but they open the door for privacy issues as well. If smartphone’s have become the new accessory to our personal, financial and social lives, what’s next? What will be the next new trend in management and use of this information? Of the services we receive, I doubt it is really worth the information we give up on a daily basis, just because we want to be tech savvy. We expect privacy, but we broadcast our information to companies as we download and install their mobile apps. Technology is developing at a fast speed, and as interesting as it would be to see what the future holds; it scares me, just a bit.
ReplyDeleteJmerr003 is correct when it comes to being a little worried about the way technology is making it a little too convenient for us as a society. I noticed the 3 of us are tech majors so we all should be particularly aware of all of the security policies that should be in place, and even then it is never enough because everyday we are always finding new ways to break into things so that we can prevent them from happening. I think Cisco's three tier approach (AAA:Authentication, Authorization, and Accounting) when it comes to security is a good baseline for starters. I would feel more at ease with this app if they offered some kind of service or guarantee of protection against fraud.
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