[TheEngineer]

Reducing financial fraud. In this scenario, people could use their chip to withdraw money from ATMs; their accounts could not be accessed unless they were physically present.

Not exactly. Instead of stealing wallets, I can see some muggers chopping arms off.

[webber]

It is engineered so that as soon as electronic pulses from nerves quit firing (carrying stimulus to/from brain) the chip ceases to function. Thus, accomplishing what placing your credit card over a demagnetizer would do.... render the card useless, wiping all information from the magnetic strip on your credit/debit card. Of course, if you had a smart card, it wouldn't work as well, although the magnetism might disrupt some cirquitry in the microchip. BUT that micro-chip is the only part of that card that is of any use. Why not place it somewhere so that it won't get lost, like......hmmmmmm... let see.........where would be a goooood place.......AH YES.......INSIDE THE BODY SOMEWHERE.....a place where a scanner can easily access it. How 'bout your hand or forhead......sounds like a plan........doesn' it?