Whilst chomping down my Weetabix this morning, I was chatting to my housemate about remembering passwords - he had just forgotten & reset his second password of the day. This is a familiar experience to most of us. I told him about a site which centralises all of your password, giving you access to all of your different accounts through just one master password. Great.
However, it really struck me that this whole process is just so inefficient. Theoretically, if someone got my master password, they would have access to all of my accounts and personal information. It then brought me back to a wonderful little company I am working with called Fingopay who are developing the most amazing digital payment system you will ever see.
You have probably never heard of them but you undoubtedly will in the next couple of years. Imagine having all of your personal information, your card details, all of the different loyalty schemes you are a part of, at the very tip of your finger.
Imagine just popping your finger into a little machine, no bigger than a standard card machine and that's it. Done. Payment taken. Move on with your life. And all within a nanosecond.
The use cases for this technology are limitless:
- Queuing at the bar waiting for the someone to type in their pin - gone
- Filling in forms - gone
- A patient's full medical history available within seconds from scanning their finger - done.
The potential is amazing.
Yes, it will takes years to roll it out and to get people to change their behaviours - we are only now coming round to the idea of contactless and that really only happened after Tfl came along for the ride/gave us no choice about paying in cash.
The same will happen with this technology. We will hmm and haa over whether to buy into this new space-age technology but eventually it will become mainstream and that will be a very good day.
Internet security is time-consuming and increasingly useless. Now, technology firms are racing to find a new universal ‘open sesame’ to our digital lives.