Why Standardization of NFC Will Change The World - Page 2
Near Field Communications has been around for a while, but it has not taken off like it should, given the transformative power it has to reshape our global economy. Until now. A standard has been set.
I am not talking about the credit card versions, how very noughties, no I am talking about mobile NFC. I have written about Google Wallet previously and outlined its shortcomings. But this is different.
The fundamental problem with NFC adoption is ubiquity, everyone needs a chip for it to work and for it to change the world.
The one chip that almost everyone has, even in the developing world, is a sim card for their mobile phone. And the GSM Association has just announced that some of the biggest telecoms on the planet are going to adopt their standard for NFC on sim cards. This is huge.
Two of the China telecoms who have signed up have 800 million subscribers between them.
Like USB, shipping containers, mobile frequencies, this standard being adopted by such a large group of telecoms will mean NFC for everyone on the planet who owns a mobile- That's 4 billion people.
And a new era of digital currency will truly be upon us. Like the steam engine of a few hundred years ago, and the shipping container of sixty years ago, the NFC chip will change global commerce in ways we have not even thought of, thanks to standardization.