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This is pretty awesome. Current credit cards and debit cards has huge security flaws. It is even worst if your card has an RFID chip, which has no encryption and holds a large amount of data about you on that card. I am definitely looking forward to this coming out.
Card 2.0 is the next logical step in personal banking. Half credit card, half futuristic gadget, the cards are as versatile as they are secure. You can tie multiple accounts to the same card or completely hide certain digits of your card number at the push of a button — buttons which are embedded in the card and are as thin as the card itself.
Our editors were hardly surprised to learn yesterday that Dynamics, the startup that makes the cards, won both the first prize and the people’s choice award at DEMO, the startup-centric conference held in Silicon Valley. We saw the company’s founders showing off their creations in the DEMO Pavilion, and we quickly pegged the product as one of the most interesting in this year’s DEMO startup crop.
Winning a startup competition is only a piece of the puzzle; we were more interested to know whether Dynamics and Card 2.0 were likely to be viable as a business and a product.
Cool gadgets are but novelties without widespread distribution. We asked for more information on the business side of things, and CEO Jeff Mullen was able to tell us that Dynamics has been working with several major banks to stealth-test the cards; bank-branded cards will be launching “soon.” Mullen couldn’t disclose exact dates. Still, it’s good to know that forward-looking financial institutions (Bank of America, perhaps?) are already working with Card 2.0 prototypes.
Check out the demo video below, and let us know what you think of Card 2.0.
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