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The E-Sylum:  Volume 10, Number 5, February 4, 2007, Article 36

JOHNSON ANSWERS CRITICISM ON MICROCHIPS IN COINS PROPOSAL

Dick Johnson writes: "Right off I wish to thank Steve D'Ippolito for
his comments on placing microchips in coins (in last week's E-Sylum).
I have said it before in this newsletter, I appreciate criticism. I
welcome your thinking, Steve.

"First no law would be necessary to encode each transaction, or to
place a serial number on a microchip embedded in a high value coin.
It would be done automatically. Steve mentioned not all transactions
take place in stores. True. Many transactions are made person to person
– these would not, of course, be recorded. It would only be done by
institutions that have the proper encoding equipment, as banks, retail
outlets, and such. Future cash registers would have this capability
built in. As a coin enters the cash drawer it would be so recorded
automatically. Banks’ equipment would be more sophisticated so it
could encode a single coin, a roll, or an entire bag of coins at one
time.

"Second, individuals would do nothing different from what they do now.
The encoding would be so innocuous a person would not know it happened.
Everyone would be unaware of any encoding

"Third, it would not identify individuals. The encoding would be by
number (of bank, retail outlet or such). This number would be encoded,
until the next transaction with an encoder. There is no invasion of
privacy, Steve.

"Fourth, the microchip would be embedded after the coin is struck (or,
perhaps, during). It is not going to be smashed during striking. I have
the greatest admiration for American engineering – that is something
we do best in the world – I am certain the great engineering minds in
America can solve this problem. Hey, Americans invented the microchip
and integrated circuits in the first place!"

  Wayne Homren, Editor

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