Mobile digital banking is great! – Or not!

Mobile digital banking is good. Under a new plan backed by the Bill and Melinda Gates Foundation, the former Microsoft CEO’s charitable organization, the mobile industry will be given a kickstart of $12.5 million to give those in the developing regions their first bank account–on their mobile phones.

Mobile digital banking is bad. Even under the highest security conditions, mobile phones can go missing, like the HTC Touch running a pre-release version of Windows Mobile or the next-gen iPhone at the heart of a tragic story about an employee losing his life over the loss of the prototype at an Apple contract manufacturer in China.

But besides the potential for plain old losing the phone – by accident or theft – there’s also the dark side of your digital money and /or bank account being rendered useless on your mobile phone by cyber-hooligans, as some Black Hat briefing presenters recently proved.

Me?  I’m sticking with plastic for a little while longer.

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