smitty777's Journal: iPhone App For Creating Cashless Society???

There's an app for that??!! Twitter co-founder Jack Dorsey said somewhat grandiosely that his new iPhone product Square will cause the world to stop using cold hard cash and turn to a creditless system. Apparently, attaching this device to your iPhone allows you to conduct any range of credit card operations. Plugging in the postage stamp sized hardware into your headphone jack provides swipe access to other's cards. You don't have to be a business either - if cousin Billy Bob owes you 10 bucks, just whip out your iPhone and scan his card. Laugh if you will, but they've already raised a cool $10 million for a company that is valued at $50 million bucks!