[LINK] Kaching a Cash Register for CommBank?

[Martin Barry]

$quoted_author = "Roger Clarke" ;
> 
> [I haven't had time to wrap my mind around CommBank's announcement of 
> an NFC-based payment scheme for mobile phones, but it sounds like 
> another highly intensive consumer data-trail.]

Is there any other way to do electronic transactions?

"Freeing" ourselves from carrying cash removes the ability to make the
physical security trade off that gains almost complete anonymity because
there is no longer a physical token that when exchanged transfers the stored
value to someone else.

If "stored value" is just some data then you need an audit trail to prove
that the value exists.

cheers
Marty