For your last blog post, please discuss one of the business models you found interesting form this week’s presentations of our final projects. Please do not discuss your own proposed business model. Highlight the strengths of the business model and provide some suggestions for improvement.
I found interesting the business model that proposed using cell phone instead of credit cards. At first, I wondered why someone would choose to use a cell phone, which, while smaller and thinner every year, still cannot compare to the size of a credit card. After a while, however, I began to think of the possibilities. The credit card could send data about the purchase directly to your electronic budget system or online banking software. Cell phones today are actually portable computers and have the ability to perform complex encryption algorithms to protect your transactions. I find it amazing that in 2011 we rely on the three-digit security code on the back of credit cards for protection.
Now that I don’t have to carry credit cards, what else can I no longer carry? Can my car be started with a secure code from my cell phone? Can my home door locks be opened with a secure code from my phone as well?
