I do agree that people can’t picture or visualize in their mind a “bitcoin”, and so this solves that part. But then you’re left with the, how do people print this tangible pretty currency part.
Cryptocurrencies are turning out to be really important but lack a physical cash instrument.
Kong marries the two.
Kong accomplishes that by minimizing trust down to the chip level - as opposed to the firmware or application level - so we can make these things trustlessly and cost effectively. Something like a Trezor is too expensive and dear to be treated like physical cash.
It already has all the benefits of physical crypto with less headache.
Couldn’t you imagine a world where this starts trending cheaper and cheaper and soon becomes a commodity ?
Kong is a toy implementation of this idea, but I think it's a very powerful idea.
Further, I'd suggest you read up on NFC and tokenization, it's not true that the companies in question actually do get access to that information unless they have separate-from-the-technology arrangements with payment processors.
In either case I'd rather be tracked than bankrupt.
Not really. There's a couple northern european economies that are almost entirely cashless.
Both the UK and the Netherlands for instance have issue reports[1][2] to ensure cash does not go away as it serves a vital purpose for protected classes.
[1] https://www.accesstocash.org.uk/media/1087/final-report-fina... - from the UK report "17% of the population would struggle in a cashless society"
[2]https://www.dnb.nl/en/binaries/DNB%20Payments%20Strategy%202... - from the DNB report "While we support the retailers’ and banks’ wish to encourage electronic payments, we do not seek to achieve a cashless society..."