I think it will simply become impossible to keep digital payment systems secure. The whole online economy will collapse. Amazon will become worthless. People will actually have to go out to local stores to buy everything. People will have to go to their local bank or currency exchange to cash their paychecks. The credit card system will fail completely too, while payday loans will take their place. The stock market will have to go back to traders yelling their trades to each other at exchanges. The old ways will become new.
SIM cards/personal payments are pretty secure. Several generations more so than internal banking systems.
I was just reading a report on this and tracking down a credit card thief when they can only spend that money when it pings their location is… pretty decent.
The mistake is thinking that security comes from some kind of techno wizardry instead of the ability to unceremoniously kill the thief the very second the value of what they’ve stolen exceeds the cost of killing them.
That raises the interesting question of how effective could an AI be if it was specifically trained to cover your digital footprint.
Really horribly ineffective. It only has to make one mistake, it will fail miserably on day one no matter how much training it got.