Kristen Philipkoski reports on Clay Shirky’s recent comments about using DNA as the ultimate biometric identifier.
No one uses DNA as an identifier yet, but Shirky said the technology exists and it’s simply a matter of execution. “VISA is currently eating about 2 percent of their transactions in fraud,” he said. “All they have to say is ‘Take a scrape of your cheek and mail it to us and we’ll give you a credit card that has a better APR.'”