Just imagine you have to choose this "chip implant" option.Would you choose to have a microchip under your skin,just to use it as some kind of wallet,Identity card,social security number,bank account,ect?I don't think so.
Where is the benefit?Increased security?Haha,don't make me laugh....
Absolutely. You are essentially creating a single point of failure for your entire life, and a poorly secured one at that. It might appeal to the masses who think it's "cool", but anyone with half a brain will stay well away. You can guarantee the government will want some kind of handy little backdoor or tracking software installed on them to.