----- Original Message -----
Sent: Friday, November 21, 2003 3:10
PM
Subject: [Sndbox] This should scare the
folks that believe the Bible...
Applied Digital Solutions' CEO Announces "VeriPay'' Secure,
Subdermal Solution for Payment and Credit Transactions at ID World 2003 in
Paris
BUSINESS WIRE
Nov. 21, 2003
PALM BEACH, Fla. -- Applied Digital Solutions, Inc. (Nasdaq: ADSX) an
advanced technology development company, announced that the Company's Chief
Executive Officer, Scott R. Silverman, in his speech today at the ID World
2003 in Paris, France, revealed the Company's newest subdermal RFID solution
called VeriPay(TM). VeriPay is intended to be a secure, subdermal RFID (radio
frequency identification) payment technology for cash and credit
transactions.
About the size of a grain of rice, VeriChip(TM) is the world's first
subdermal, radio frequency identification (RFID) microchip that can be used in
a variety of security, financial, emergency identification and other
applications.
The VeriPay announcement came just a few days after a USA Today article
(November 17, 2003) about emerging technologies highlighted one of the major
limitations of using RFID technology for payment and credit transactions.
After discussing various potential formats for RFID payment systems, including
cards, earrings or pens, the USA Today article stated: "Still, experts note
that one big hurdle remains for RFID systems: security. Lose your RFID-enabled
card or earring, and someone else could easily use it to run up charges -
especially if no signature is required."
In that same article, an executive with a major credit card company said
this about his company's RFID payment technology: "Ultimately, it could be
embedded in anything - someday, maybe even under the skin."
At ID World 2003 in Paris, Mr. Silverman made the point that the
subdermal RFID VeriPay technology specifically addresses the security issue.
VeriPay's unique, under-the-skin format offers a much more secure,
tamper-proof, and loss-proof solution. VeriPay brings to consumers the
benefits of fast and reliable RFID technology along with the security of a
subdermal format.
In announcing VeriPay to ID World delegates, Mr. Silverman expressed his
belief that VeriPay has enormous marketplace potential and invited banking and
credit companies to partner with VeriChip Corporation in developing specific
commercial applications, beginning with appropriate pilot programs and other
market tests, for the VeriPay subdermal RFID solution.
About ID World 2003
ID World is organized by Wise Media, S.p.A., based in Milan, Italy. This
year special attention will be given to the future of security systems. The
modern security infrastructure relies on specialized systems, software
applications and technical standards built on different foundations for the
physical world (i.e. access control to buildings) and the virtual world (i.e.
IT security). With industrial spies, terrorists, hackers and vandals
increasing their ability to operate in both environments, the traditional
compartmental approach to security is evolving towards an increasingly
holistic view. Key industry players that traditionally focused either on
physical or digital security explain how the boundaries of these worlds are
blurring and how global security infrastructures are converging to address
both environments with integrated solutions.
Over 30 speakers will take the stage at ID WORLD 2003, a majority of
which are senior corporate executives and key industry players. Confirmed
speakers include: David Slinger, General Manager of Texas Instruments RFID;
Mauro Benetton, Marketing Manager of the Benetton Group and President of Lab
ID; Dr Joseph Atick, President and CEO of Identix, Joseph Grillo, President
and CEO of Assa Abloy ITG; General John Watkins, former director of the
Pentagon's Defense Information Systems Agency; and Francois Darcy, Directeur
Projet Titre Fondateur - Ministere de l'Interieur, Republique Francaise.
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