No more need for a wallet?

In addition to personal computer replacement, the MOHB will serve as both proof of identification and money exchange medium, replacing state-issued ID cards and credit cards alike.

Other countries are already making those steps - according to the New York Times, Japanese mobile phone users have been using their devices as credit cards for five years.

There's no reason to believe why governments could not take those steps in the future as well. An identification number can be issued at birth, much like our social security numbers here in the United States, and when people are old enough, they can be given a contact number as well. All such information could be programmed into a remote database and tied to one's MOHB. If one had to get a new device, the old device could be deactivated (remotely as well) and information could be tied to the new device.

Advanced biometric systems that recognize the user will provide security in cases such as these. Lenovo Mobile has already released a phone that uses fingerprint biometrics for security purposes.