RE: RFID and Banking

There are a number of possible applications that the Treasury Department is Investigating which would be applicable, perhaps eventually mandated by banks - everything from anti-counterfeit measures to inventory and asset tracking.

The issue with security and privacy is easily overcome once the architecture is understood. While EPC Class 2 tags have features for packetized data and advanced encryption, that is not nearly the most important security feature of the EPC protocol. The fact that a passive tag would only have a number associated with it and then a file associated with the number is what creates the security.

Many people use the license plate analogy - you can read any car's license plate, but unless you have access to the DMV database you don't know anything about that person.

Hope this helps.