We have seen the future, and it sucks.

A Simple Solution to Credit Card Fraud (and Why You Won’t See It Any Time Soon)

24th February 2013

Read it.

I learned some things about how the world works that I couldn’t figure out how to write about without coming across like a paranoid loon, and I couldn’t get them far enough out of my head to write cogently about anything else.  I’m still not sure I can tell this story without sounding like a paranoid loon, but I’ve decided to take that chance.

There are some fairly straightforward technical solution to the problem of credit card fraud.  Some of them are new and innovative, while others are already in widespread use throughout the world, but not in the U.S.  But none of these solutions will be deployed in the U.S. any time soon, not because it’s hard, but because the established players in the financial industry won’t allow it.

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