I reckon many people have seen the latest Smile-to-Pay facial payment technology that are introduced in China. Large companies like, Tencent is using this in their popular WeChat app and other companies like Alipay are spending millions to develop their own technology like this.
https://www.theguardian.com/world/2019/sep/04/smile-to-pay-chinese-shoppers-turn-to-facial-payment-technology
So, do you think this is a truly revolutionary payment option or is this just an extension of the Chinese surveillance goals? Now, you cannot deny that you made a payment or that you were involved in a payment, because every face is unique.
Will the millions of people in China blindly adopt this technology, because these platforms are widely used already or will they opt for something a bit more anonymous like Bitcoin?
The convenience is also a big factor, just imagine leaving your home to go shopping without a wallet or anything to remember... you just take a product or pay for a service by looking into a camera and you pay with your face.
Let's discuss.
https://www.theguardian.com/world/2019/sep/04/smile-to-pay-chinese-shoppers-turn-to-facial-payment-technology
So, do you think this is a truly revolutionary payment option or is this just an extension of the Chinese surveillance goals? Now, you cannot deny that you made a payment or that you were involved in a payment, because every face is unique.
Will the millions of people in China blindly adopt this technology, because these platforms are widely used already or will they opt for something a bit more anonymous like Bitcoin?
The convenience is also a big factor, just imagine leaving your home to go shopping without a wallet or anything to remember... you just take a product or pay for a service by looking into a camera and you pay with your face.
Let's discuss.
It's a really nice step towards progress and security though. Adding facial recognition to fingerprints can really help secure bank accounts and such. But it's also bothering at times since like every transaction you make, your face is recorded and basically every company now has your face. They can use that then to basically gather information about you and stuff like that. Well, facebook almost does that at the same time since you use your face as your profile pic at the same time, but that has your guarantee and you can adjust privacy settings to whom can see it and such. On the other hand, once the pic gets to the company, you don't really have control anymore as to where it goes to.