iCache Eliminates a Fat Wallet

It's impossible to see everything at CES, but I managed to spot the iCache over at Popgadget, which says this little device is a "mini storage for all your credit cards." It's funny I found this because this weekend I bought a new wallet and realized I carry way too many credit cards. I have a card for Borders, Blockbuster, Costco, Safeway, and others stores I wish I didn't need.

A concept device predicted to be a big hit among the ladies made its way into CES, and only a few people spotted it. It's called iCache, and it promises to eliminate the bulge from your wallet. The digital wallet consists of a universal card and an iPod-like device that holds all of your credit card information. To activate the iCache digital wallet, you'll have to register all your credit cards to an online account. Anytime you need a particular card, you simply select it from the list on your iCache, insert the universal card to temporarily load it with the data you need, then use it at the store of your choice. The information remains on the card for ten minutes before it's completely wiped out.

In terms of security, all the information on the iCache is encrypted, and the device itself requires a scan of your fingerprint before it can work. While most of us may not be ready to use this type of technology, do expect it to become available in the next two years, that is if financial institutions warm up to the idea at all. What do you think of this emerging technology? Guys, would you carry an iCache in your back pocket?