I came across an article in the Technology Review that discussed Near Field Technology (NFC) and its applications in data communication. NFC is similar to RFID, but has the ability to both send and receive data rather than just sending alone. The article discusses how mobile phones will be equipped with NFC technology turning your phone into your wallet.
The article brings two questions to my mind.
1) if two devices are sharing data automatically and wirelessly, how do we secure the connections to avoid the inevitable opportunity of hackers to collect the data sent by these devices for nefarious use?
2) What new market opportunities will this new data flow create? Every new incidence of data flow has created opportunities to create value and I wonder what will come of NFC technology.
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