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Watch: Making credit cards obsolete, could this chip implant be the future?

Meow-Ludo Meow Meow (he had changed his name years ago), hopes to stop using his wallet by October, for good. How he is going to do that, is the real trick.

Meow is a biohacker, dealing with a fairly new branch of biology that is looking at merging electronic identification and the human body.

As of now, Meow has a Near Field Communication (NFC) chip implant on his thumb that can be programmed to do small tasks, like storing credit information or digital keys or even sharing location.

"It's basically a little piece of memory that can do some fun stuff," he told Mashable Australia.

With the help of the chip, he can facilitate transactions by tapping his thumb against any shop's contactless payment reader.

Although it is not ready to serve any major functions, Biofoundry, the team developing it, hopes to have a fully functional NFC chip that could essentially make business cards, credit/debit cards, digital signatures and other identification devices a thing of yesterday.

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