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Inventions evolve out of necessity and they become great with an ethical cover.
Inventions that give shape to great inventions and move the entire community towards
being smart through it are actually ENGINEERED ones.
SMARTBOX TECHNOLOGY
- Biswaraj Sahu
Insurance companies are
implementing smartbox
technology so good
drivers can benefit from
cheap insurance rates. The
smartbox, similar to a
black box for airplanes,
records details about how
your car is driven, which
can result in cheap
car insurance for
responsible drivers.
The device is
connected to the
electronics in your
car and collects a
wide criteria of
information such as
time, speed, braking,
cornering, acceleration
and location. The
smartbox data is wireless
transferred in real time to
the insurance company
and provides a profile of
when, where and how you
drive. This profile is then
used to compare insurance
rates and to reward lowrisk
driving behavior with
cheap insurance rates.
Drivers are high-risk when
they drive irresponsibly
such as speeding, frequent
lane changing, driving in
high-risk locations or at
high-risk times such as in
heavy traffic or late at
night.
These new electronic
inventions are intended to
replace the standard
practice of categorizing
drivers into group
behavior to determine
insurance coverage and
premium payments.
For example, young
drivers are more likely to
drive fast, drive at night
and use a cell phone while
driving. Statistically,
young drivers are more
likely to cause an accident
so insurance companies
charge them higher rates
to cover the costs of
accident claims.
So even if you're a young,
responsible driver, you
will pay high insurance
rates because of group
behavior.
This technology allows
you to provide proof that
your driving behaviour
doesn't fit the pattern of
your demographic group.
All the information
collected about your
driving can be viewed
online - including what
you're doing well and
what could be improved.
TECHXPLORER 5 ISSUE 2-2016

Your insurance premium
is then calculated
according to your driving
profile.
THE SQUARE
The square is a small plugin
attachment to your
mobile phone that allows
you to receive credit card
payments. The idea
originated from a
seller who was
unable to sell
some glass work
to a customer
because he
couldn't accept a
particular card
being used.
Accepting credit card
payments for something
you're selling isn't always
easy, especially if you are
mobile like a tradesman,
delivery service or a
vendor at a trade show.
This latest invention uses
a small scanner that plugs
into the audio input jack
on a mobile device.
It reads information on a
credit card when it is
swiped. The information
is not stored on the device
but is encrypted and sent
over secure channels to
banks. It basically makes
any mobile phone a cash
register for accepting card
payments.
As a payer, you receive a
receipt via email that can
be instantly accessed
securely online. You can
also use a text message to
authorize payment in real
time.
Retailers can create a
payer account for their
customers which
accelerates the payment
process. For example, a
cardholder can assign a
photo to their card
so their photo will
appear on the
phone for visual
identity
confirmation.
Mobile devices
with touch screens
will also allow you
to sign for goods.
There are no
contracts, monthly fees, or
hidden costs to accept card
payments using Square
and it is expected the plugin
attachment will also be
free of charge.
TECHXPLORER 6 ISSUE 2-2016