nice chips weigh less than a gram and are about the size of a grain of rice and are comprised of a hi miko chip encased in a bio polymer. while there are different ships on the market, for the most part, they all use near field communication or n s c, which is the contact list payment system in smartphones or the other one r f i d. these chips emit a radio frequency signal that transmit its unique id number to a scanner. the number then access is a computer database containing the client's files. customers can opt to provide as much or as little as they want to link onto their chip when they undergo the procedure. now with this technology, these chips can be encoded so that with a wave of your hand, you can make payments at the car terminals. start your tesla, open your home door, ride the metro, access your workplace, and many more. the average cost of the procedure of having and micro chip implanted

is only $150.00 to $300.00. and these chips can last for 20, even 40 years compared to other health. wearables that can cost twice as much. and then only last a few years. investors are betting on this appeal with expected compounded annual growth rate of 22 percent. the industry is expected to be valued at over $6400000.00 by 2027. and today, more than 50000 people worldwide have elected to receive micro chip implants. this technology is especially popular in sweden, where more than 6000 swedes are replacing key cars for implants and even just for emergency contact information and social media profiles. this rate of adoption make sense in a society like sweden, which is the 2nd most clash, the society after canada in the world. aside from simplify payment for things,

the micro chip would also speed up every daily process by a large amount resulting in a faster pace of life. for example, micro chips could offer easier identification for your driver's license passport vaccination cars, medical records, crypto wallet, and even allow for the synchronization of all your technology devices. together. many proponents argue that medical mistakes would be greatly reduced and the quality of care would increase if our medical charts were loaded or microchips. these chests would then monitor disease. states like diabetes, help to manage medications and reduce surgical mistakes. however, nice chips are not get at the approved, as there are concerns about the potential health effects of the device and humans. micro chips have been used to track animals for years. however, humans are different story. these chips are form of electronic leashes. what happens as an employer makes it a condition of employment for

a person to be implanted with a chip? it could easily become a condition of release for parolees or requirement for welfare as well. for more, we're joined by watch tech proposed up founder and ceo of wallet more. thank you so much for joining us today. so can you tell us more about how this micro chip technology works and what are the future possibilities of using this technology? ok, so our company uses and if we stem sport meter feels communication up names says it's purely for new food communications. so that's when you are near the payment terminal or another. and if the leader, the reader, the machine can spot that there is a particular payment instrument or another id, for example, doc has sort of data program on it such as for example, bank account, data dog can be charged when you present the hands to the payment terminal,

so it's a technology that has been there for tentative years. so already and it's quite come on in the payment industry, especially in europe. we're pretty much all the cards issued our contact with, and we decided to take it to another level by decreasing the cards, the wearable se, if the size of paper pins and put it in, put them into the human body by designing bio safe and secure in us now, are there a security risks with this? for example, can someone just use your hand or arm on their terminal and it processes the payment or bank transfer? when you're talking about the cybersecurity, our implants, we need to think very broadly about this technology. so 1st of all, are you scared or being tracked or monitor when you have your debit or credit cards

in your life? i'm sure not because it's just not the concern, not the case that we are that we have to get about because it's got well protected and it's just not the technology can be used for tracking expiring. we need to go all sorts of things that only work for one purpose, which is which is and it's exactly the same case with, with the index. it works only what he presented to the terminal and a few either. so it's julie for that. nothing else, nothing more. when it comes to being caught with that i'll try transactions, i should say no for to either. the 1st case is that the input is very, very small and therefore be social very, very small. it's a couple times smaller w candidates. you have in the parts or in the wearable. so even smartphones which

can also payment instruments and therefore you need to find a very correct sweet spot in every terminal. so assuming that the implant is placed right here at the bottom of your palm and then you presented to the payment terminal to the top is perfectly to the same place where antenna is located in the terminal. so for example, if you put it on the central screen where there is no one in the terminal, the payment, no go for me to go, you could touch it specifically on the correct place on the reader. so for example, if you look at the terminal, the old fashion kinda phone where you have the bottom for the very bottom and speed at the very top, you need to top the upper curve of, of the device and down to the place where this week split it so imagine the situation which there is a mysterious person walking around the park gallery, or coupon the terminal is fine too big spot,

whatever. anyone has an implant. so you will realize that these 10010000 times that there is a we a person trying to touch your. and so let's say suspicious device until he or she gets finally perfect location and he's a sweet spot. so it's definitely very important. also to educate yourself when you're using the info, because that's also one of the concerns that our customers bring that i bought and implemented doesn't work by touch it to the terminal and it doesn't have the transaction. well, that's actually the case. it can all be super simple and you can just wave your hands in front of the terminal and get the payment. you need to do it on purpose and need to do it in the very concrete manner. and then that's your option for you to percentage what is actually so i guess i believe they are 100 percent secure. also,

given the fact that they use the same communications protocol and the same security standards, us all of the other payment instruments, whatever it's wearables, phones, or stuff costs. it's exactly the same to be provided by the exact same payment scheme. so there's nothing to worry about the only difference that is between even cars, wearables, to just the size and the future of being able to put it inside of the bike. and are there any long term side effects of having an implant in your hand like this? are there things that you can no longer do or have to be careful doing with a chip in your hand? there absolutely no side effects using the front because they are fully bio compatible by some possibility means that if you're putting a device that is by possible inside of your body, the body is just not getting their reaction with this outer body. so that's what happens to the pump. we test the duct or precisely speaking. yeah, blah blah blah,

for improper certificates. has tested data. we have run exactly the same tests are that are being run for medical devices and the results were absolutely positive. there was a full bias compatibility, so you can keep the info for the rest of your life in your body and nothing will happen. neither will migrate. either it will get destroyed. nothing can be 100 percent. sure that everything's going to be fine. of course, we can be testing by a polymer, which is out the layer of the implants. with our testers, since 201-8018, we have no side effects, nothing negative happen to anyone who use this material. and on top of that, i need to also remind you that bio polymers consider one of the strongest natural materials that can be can be used for such devices. because

you can go to our youtube channel and find it. you know what, i'm really trying to destroy the implants with the hummer and the screwdriver just by smashing it as hard as they can. and the bus to work to dr. amazing feature and probably all the, regarding a potential danger of having the there's no risk of getting it's destroyed or damaged anyhow. so once you get it installed, it can be sure that nothing will happen to body. and how do you think adaptation will look like, are people excited or weary of these microchip implants? we are focused about destructive innovation such as what more implants we need to answer our number of questions, whatever. it's something that is more secure than the previous devices that have been following the same problems. whatever is more easier to use, whatever it's more complex, whatever it's more ecology,

whatever. it's more fascinating in a way and dose questions always answered with one work, which is yes it's the device does beat the competitive competitors devices in pretty much every area to get on like just some other topic. just a matter of getting one simple injection that takes a minute or something. and you can merge your digital and physical identities with one little device. so yes, it's going to be there. it's going to become popular as credit cards or any other physical hearts that you use for outright yourself and identifying yourself. and it's just a matter of time whatever's going to take 2 years 20 years. i don't know because it takes a lot of time and effort to come back all this educational campaigns and make people vague and understand that it's something which is completely secure,

completely safe and ultimately convenient. and it actually brings the real value to their life. and that's what world war is doing. and of course, poli, along the way there will be more than one company, those payment. and i'm sure like that's how the market we are. but personally, i believe that's the product that makes life easier, safer, and i'm committed and my team is committed to develop that. so i'm pretty sure it's going to be the next big think not only the payments industry, but also, you know, the other industries, whatever you need to identify yourself or outright any decisions. thank you so much watch type of product for a time and insight. now when we come back, it might excite you to have this convenience of not forgetting your wallet with a chip implants. but what are the security issues that come with the exchange of data connectivity within these chip will have more after the break. i

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ah the welcome back to the cost of everything. while the new technology is always exciting and convenient as it means that you'll never have to worry about forgetting your wallet. invasiveness and security issues remain a major concern for people. a chip. it's an extension of the internet of things, which is essentially a new way of connecting and exchanging data. and the data in this case, is you your habits, your patterns, where you go, your health, etc. how much are you willing to pay for the sake of convenience? there is always a dark side. the technology has everything has the potential for abuse. it opens up new avenues for control and oppression, even as there are questions over who owns the data on the chips,

who has access to the data. and is it ethical to chip people like we do pets? data privacy experts have expressed concerns about whether micro chips can be used to trace hack or steel sensitive data by literally getting under a person's skin. the biggest concern is the unintended consequence of the ability to track where bodies are in the most fundamental sense. and implanting chips in humans has privacy and security implications that go well beyond cameras and public places, facial recognition, and even the ownership of your own data. these are the issues about security, about who can access it, who can see it, who can manage it. and they're already questions today about law enforcement is attempting to force giant tech companies to unlock their phones or cloud storage is imagine the breaches of security. it's the same pressure where to be apply towards these chip companies. that house all of your personal private data. unlike your smartphone or laptop, which you can leave at home,

a micro chip with continuously track you. and you do not have the option to power down. and while many argue that the micro chip is passive and is unable to connect itself with the internet, it is still possible that the ambient reader devices can download information stored in the chip and transmit its location to the internet. this opens the doors were widespread breaches the privacy on authorized surveillance and data misuse and for more or less bring in dan lauren and author and cybersecurity expert. so dan, it looks like this technology is fairly common in places like sweden, but in all their places of the world, there are still this fear over privacy and how this data will be used. so why is the difference in acceptance, and why are swedish citizens so quick to adopt this? yeah, interesting question. i don't think anyone knows the ultimate answer that i will

say that in sweden on it. i find fascinating that during cobit, they were the country that was a, you know, most open around a different, a related to how they dealt with vaccines and, you know, protections, kroger, 19. um, i think in sweden you know, that there's ultimately, it's going to come down to trust to the maybe perhaps is more trust of the government there. i will still highlight though that it's still there. they're saying around 6 or 7000 people in sweden at a 10400000. so i wouldn't say it's totally common place, but it certainly is much more widespread in sweden than it is in other countries. and so i do think that they are a global leaders in the space and it's, it is more people utilizing it there. why exactly is a great question. i certainly think that did that other numbers of people that are, you know, kind of leading edge of trying to look at how they can enhance their health in

and basically use technology to provide maximum benefit and convenience. and sweden seems to be the global leaders in that. and now what are people who will not want a check money on the margins of society, or maybe they'll simply not use some amenities just like people today who do not have smartphones. yeah, i mean, i think that, you know, honestly this is going to gradually grow. and i think that, um, the adoption will most likely take off in areas where there's medical benefits. and so when you start thinking about, um, you know, benefits that, that could be coming for disease is a chip implants. and that's where i think broader adoption will. busy take place and and then and then down the road you're going to see more and more individuals using it for enhancement types of purposes i can maybe get,

improve my vision or improve different valley functions. i think that's we're experts are saying this is heading thing. first, it'll be, you know, examples of where can help with diseases and, and challenges related to solving all different types of problems that people are having. certainly if, if you can heal diseases or, or solve a medical problems that's fantastic. and then down the road, you know, it's becomes more and more accepted. those who don't want to do that. yes, it could potentially cause a division. um, i think we're honestly probably decades away from that today as a convenience being shipped, i'm putting in good chips in your body. i think more and more by iraqi or my group of busy microchips within your body planting micro chips is still um, thought of by many organ might, many people around the united states and around the world is being very unsafe and

they don't want to do that so i think we have a big a curve to get over in the near future 1st, whereby build broader sections of society adopted. many animals are checked whether their paths are being studied. so if humans today are being checked, who's monitoring this information that's being collected, and how is that information going to be used? yeah. does different companies that do that and there's, you know, of services that we have. we have some animals that are chipped ourselves of a dog and a cat and o our, our, our vet, you know, you know, really has that data and they use services, the levels of security for that. the levels of control, i think in some cases is, is pretty good in some cases. not so good. so i think it really depends. got a good lawyer answer right. but it really depends on the technology being used in

the services. there needs to be good cyber security etiquette being used by all of these organizations that are capturing that data and storing that data. i think it's also a moving target. so hackers are always trying to get that data. what may be secure today may not be secure to morrow, so this is a, this is an ongoing cyber kind of arm trace that we're in right now. and it needs to constantly be thought of it. you know, where is the data going? how's it being used? who is it being shared with are, you know, pet owners giving permissions, you know, how is the data being shared and genomes and, and those kinds of things as well. certainly, i think when you start talking about humans and genome research and security around that, that is, is of, in my view, a much more, a higher level of security that is needed is much more serious situation. now some people may argue that you know, that needs to be done for animals. i certainly would agree these animals,

but you know, as, as they become more sensitive, it could be misused. i certainly believe that protections need to be upgraded. they need to be improved and need to be constantly looked at more people process and technology perspective is that the constantly evolving and changing environment. thank you so much, dan. by a time while there is tremendous interest in the sector, there are those who fear it and are strongly opposed to microchips. in nevada, a bill was introduced to make involuntary measure chic implants illegal. but it was later amended to also include voluntary micro chipping as well. currently there is no state bank voluntary micro check and plants. with the developments of such micro chips, there needs to be certain guidelines in place. even if some people were to voluntarily get micro ships implanted, they may not be fully aware of the privacy risks that can result from it. if microchips were to become increasingly widespread,

now we need to make sure we are prepared for it and can protect the public from the risks associated with this new technology. furthermore, there's a lot of uncertainty of how much more advanced these chips will become in the future, and how much personal private information there will collect. people should be able to do whatever they want with their bodies. but even so, there should be some sort of regulation to ensure that this technology is not endangering the public. and that this shouldn't be a knee jerk reaction in banning implants for those who want it. but in the end, no matter how convenient people's lives become due to these implants and micro chips that can interact with smart devices, with a wave of a finger, the ultimate winner is still going to be the big data collectors. today these data collectors are traditional social media apps and phones that sell your information to 3rd parties to better target ads and products towards you. but with chipped

technology rapidly developing and allows for more intimate data about your health and behaviors to also be collected and sol. i'm christy. i will see you next time on the cost of every bank. ah, i am exemptions and i'm here to play with you whatever you do. do not watch my new show. certainly why watch something but so different. why little opinions that you won't get anywhere else work of it please, or do i have the state department to see? i weapons, bankers, multi 1000000000 dollar corporations. choose your facts for you. go ahead. what change and whatever you do, don't watch my show. stay mange true. because i'm probably going to make you uncomfortable. my show is called direction but, but again,

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