The Daily Reckoning

Cell phones have come a long way over the last several years. Over 500,000 apps and myriad new uses have been innovated, with many more in store.

But can your phone be a wallet? NFC (Near Field Communication) Technology allows devices to connect with each other at short distances and might allow you to use a smartphone app like a credit card, and even uploads a digital receipt when your transaction is complete.

This method, using the same technology as access and prepaid transportation cards, could eventually see credit cards being replaced by cell phones, which could greatly improve on-site store transactions and shorten lines considerably. The technology is growing in popularity: by 2015, there may be half a billion phones with NFC technology, according to research by iSupply.

Stay up to date on the latest advances on technology with your free subscription to The Daily Reckoning.

The Daily Reckoning

It's hard to believe that more than ten years have gone by since we began writing The Daily Reckoning out of a Paris office back in July of 1999?

Since then, a lot has changed. We have seen the dot com boom and bust... a massive expansion of credit...real estate mania and meltdown?and epic highs and lows in the markets.

Nothing about the past ten years has been boring. And we have been there throughout, trying to help readers make some sense out of our global economy. And hopefully providing a few laughs along the way.

In short, we pen The Daily Reckoning each day -- for free -- to show you how to live well in uncertain times. We aim to make each article the most entertaining 15-minute read of your day.

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