Word: cashless
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...sophistication of such products, China's PDA market remains a hodgepodge, advanced in some areas and primitive in others. A creative local manufacturer has developed a PDA that Beijing traffic cops use to record fines and track stolen cars in a new cashless system that eliminates the chance for bribes. Innovators have experimented with voice recognition and designed built-in modems so users can plug PDAs directly into phone lines for Internet access, a useful feature in a country where less than 2% of the population owns a computer. But the China market is hindered by a lack of common...
FASTER FOOD When you're jonesing for a Freezy McShake, you don't want to fool around with old-fashioned bills and coins, do you? After a year of testing, burger titan McDonald's will roll out a new cashless payment system in 400 Chicago-area stores. Wave your McDonald's Speedpass over a special reader--based on the same technology that powers highway tollbooth passes--and your tab will be automatically added to your credit-card bill. Now if only Ronald had a fat-free French fry system...
...lower capital-gains tax rate on future appreciation. But that requires putting up cash, which you could lose if the stock goes south. Why? You would end up owning the stock, not the options, and thus would be vulnerable to any losses the market threw your way. Choose a "cashless exercise," and you'll never have to worry about market risk or unpaid...
...order that empowers individuals. They include a former medical student who's bringing venture capital to the masses, a maverick who's creating an automated stock exchange and a tech maven who thinks you should carry smart cards instead of currency. The society these folks are fashioning may be cashless, but it will be rich beyond Goldfinger's fantasies...
...worse was yet to come. On the other side of the world, in the offices of the German newspaper Abendblatt in Hamburg, system administrators watched in horror as the virus gobbled up 2,000 digital photographs in their picture archive. In Belgium ATMS were disabled, leaving citizens cashless. In Paris cosmetics maker L'Oreal shut down its e-mail servers, as did businesses throughout the Continent. As much as 70% of the computers in Germany, the Netherlands and Sweden were laid low. The companies affected made up a Who's Who of industry and finance, including Ford, Siemens, Silicon Graphics...