Cell Phones May Recall Your Memories Thanks to NFC

The promise of using your phone as a digital wallet, thanks to small wireless chips called RFID tags, has grabbed the attention of the entire payment-processing industry. The premise is simple: Wave your RFID-equipped phone near a payment terminal to complete a financial transaction. In practice, the logistics of near-field communications (NFC) are still being worked out, with different standards and methods. But XtremeSignPost, a biotechnology firm in Davis, Calif., is betting that wireless mobile commerce will take root. ...

interesting tidbit from the press release: “XtremeSignPost links memories in the form of videos, photos, and audio files to RFID-tagged products.”

Linked memories sounds far-fetched and futuristic, but the concept isn’t beyond the realm of possibility, if you equate memories with user-generated content such as images and videos captured with a mobile phone. XtremeSignPost calls this the “Internet of Experiences.” Take the example of a video recorded during a fishing trip in Fiji: By associating the visual “memory” with an RFID-tagged fishing lure used on the excursion, a phone swipe near the lure would recall and playback the experience. ... XtremeSignPost plans to leverage the technology for targeted advertising ...

RFID and near-field communications technology still isn’t mainstream, but it has been gathering momentum as analysts predict mobile payments will top $633 billion by 2015. Visa began to test wireless payment solutions in August, and wireless carriers in the U.S. are banding together to create their own mobile commerce system called ISIS.

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