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The End of Magnetic Strips, How the Brain Copies Memory, and Pixar's Forgotten Pioneer
Aug 19, 2024
08:16
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Mastercard's shift from magnetic strips to EMV chip technology is set to enhance security and reshape the payment landscape. A groundbreaking study reveals that our brains create three distinct copies of every memory, offering fresh insights into memory disorders. Lastly, spotlighting Alvy Ray Smith, a lesser-known Pixar co-founder, the podcast reveals his dramatic confrontations with Steve Jobs and his vital contributions to the animation industry. Smith's legacy continues to influence how we experience computer graphics today.
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Quick takeaways
- MasterCard's transition from magnetic strips to EMV chip technology marks a significant shift towards enhanced security in the payment ecosystem.
- Research shows the brain creates three distinct copies of every memory, each contributing uniquely to memory formation and recall.
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Mastering the Transition from Magnetic Strips to EMV Chip Technology
MasterCard is phasing out magnetic strips on credit cards, a technology that has been in use since the 1960s, by 2033 due to security vulnerabilities. The transition to EMV chip technology, which offers enhanced security by generating unique transaction codes, addresses major fraud concerns highlighted by incidents like the 2013 Target data breach. With MasterCard holding nearly 40% of the U.S. credit card market and $2.6 trillion charged in 2023, this shift will require businesses to upgrade their point-of-sale systems and will impact financial institutions’ card issuance processes. Other credit card companies may soon follow MasterCard's lead, which suggests a significant evolution in payment methods across various sectors.
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