Credit Card Wristbands?
After reading Megan Howarth’s Blog, Credit Card Wristbands?, a few thoughts came to me. In the Blog, Megan described the security concerns she has for the wristband but also recognises the uniqueness of this product. The wristband is synced to its owner’s heartbeat and does not require a PIN code. This brings to mind the never-ending debate of the over dependency of technology in everyday lives. As in famous contemporary author, Kurt Vonnegut’s, short stories, the overriding theme of being controlled by the technology is prevalent. Vonnegut has skeptical views on the topic of advancement in technology and its use (often is the tool of government to control and suppress people). In my opinion, we should distance ourselves from heavily using or depending on technology, especially since the trend of technological development is towards wearables. Wearable technology such as the credit card wristband, google glass, iWatch, etc. will be used even more often by us then laptops, cell phones, etc, after they become the mainstream. The credit card wristband, like other wearables, are fairly new and thus would be considered as a differentiation strategy in Porter’s Generic Strategies. In conclusion, the credit card wristband will most likely succeed because of its differentiation strategy, however we should not become overly dependent on wearable gadgets.