Posted 19 February 2012 - 01:02 PM
I have a hard time seeing a system like that for single-party transactions. In terms of necessity, I mean.
A chip or similar would be extremely useful, and I would definitely get one, in situations where intellectual security and multi-party transactions are used, such as in credit cards, insurance, or medical expenses. It would be useful for simpler things, like grocery shopping, but hardly essential, in terms of security and exchange.
Essentally, I can see a chip system being used for major purchases, and as an added value, to be able to use it for minor purchases. I can't see anyone creating a chip solely for minor purchases, as would need to be done to claim that, without it, you would starve. It just isn't a complex enough market.