The USA could lose its dominant position in the international market if it does not act quickly to establish a “digital dollar”. NFC is an important component of this effort—it is standard in over three billion smartphones worldwide and is already an important payment and exchange channel.
The USA, and others, need a greater sense of urgency on digital currencies. Of course, privacy and identity are important considerations when involving digital technology as well. Again, NFC has a pivotal role to play here based on its fundamental characteristics, user experience and technology. One could call NFC the a “digital currency enabler”.
To learn more about the future of money and how NFC is already changing retail as we know it, visit us at https://nfc-forum.org/.