Smartcards

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to copy or falsify. However, the simplest do not provide any security against unauthorized use. In other words, if you lose your pay phone card, anyone else can use it. There are of course smarter cards that provide such security by incorporating a password or even a biometric identifier such as a fingerprint to restrict its use to one person. The most sophisticated cards can manage several passwords and can use authentication and ciphering techniques to provide virtually total security.
History behind

In January 1974 Roland Moreno, a Frenchman and former reporter, devised a revolutionary new payment system. His idea was an electronic stored value application mounted on a ring. His idea was simple, when the bearer needed money, they would “load” the currency onto the ring therefore enabling the bearer to be able to spend electronic money at a store which had the suitable electronic equipment. Then in March 1974 Roland presented his project to a few ...

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