FC: European central bank plans to embed ID tags into new currency

[Declan McCullagh <declan () well com>]

Compare with the "cash tax" proposal in the U.S. from Marvin Goodfriend, a 
Federal Reserve official:
http://www.politechbot.com/cgi-bin/politech.cgi?name=goodfriend
http://www.well.com/user/declan/cashtax/

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From: sorge () themail com
Cc: declan () well com
Subject: Euro bank notes to embed chips by 2005
X-Priority: 3
Date: Sun, 30 Dec 2001 03:57:44 -0500


Euro bank notes to embed chips by 2005

http://www.eetimes.com/story/OEG20011219S0016   


The European Central Bank is working with technology
partners on a hush-hush project to embed radio frequency
identification tags into the very fibers of euro bank
notes by 2005, EE Times has learned.

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Excerpt:

   SAN MATEO, Calif. -- The European Central Bank is working with
   technology partners on a hush-hush project to embed radio frequency
   identification tags into the very fibers of euro bank notes by 2005,
   EE Times has learned. Intended to foil counterfeiters, the project is
   developing as Europe prepares for a massive changeover to the euro,
   and would create an instant mass market for RFID chips, which have
   long sought profitable application.

   The banking community and chip suppliers say the integration of an
   RFID antenna and chip on a bank note is technically possible, but no
   bank notes in the world today employ such a technology. Critics say
   it's unclear if the technology can be implemented at a cost that can
   justify the effort, and question whether it is robust enough to
   survive the rough-and-tumble life span of paper money.

   [...] 




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