A cashless society and fingerprint payments are on the horizon (Mail & Guardian)
The programme makes South Dakota School of Mines & Technology the first in the world to test life as a biometrics campus using foil-proof biocryptology that goes beyond a fingerprint to read multiple layers into the skin and detect haemoglobin in the blood.
The patented technology on the back-end turns each finger scan into a series of valueless numbers that change every time the finger is introduced.
Data encryption ensures security, as the numbers can’t be reproduced in a meaningful way, not by merchants, law enforcement, hackers or even Nexus Smart Pay.
SDSMT also recently made news when it was revealed that its graduates earned more upon graduation than Harvard grads.
Those leaving the college of 2,300 students this year got paid a median salary of $56,700, according to PayScale Inc., which tracks employee compensation data from surveys. At Harvard, where tuition fees are almost four times higher, they got $54,100. Those scheduled to leave the campus in Rapid City, South Dakota, in May are already getting offers, at a time when about one in 10 recent U.S. college graduates is out of work.
SDSMT seems to be doing a lot of things right.