There is this company, Zoosh, who has built a pretty clever electronic payment and fund transfer system based on acoustic technologies. As I watch the NFC space blasting its way from concept to application, I'm happy to see this alternative entrant to the market. But, I'm hesitant when I hear the words "acoustic" and "money" in the same sentence -- not in the starving cafe singer/songwriter sense -- but in the "redbox" sense.
Of course, I haven't read enough information about Zoosh to have a complete understanding of the technology, nor the security. Acoustics, both sub (infra) and ultrasonic are areas that fascinate me, and the world has seen remarkable things done with these variants of audio [frequency] manipulation. Clearly these guys are doing something pretty cool here.
When I was a kid, I used to make Redboxes. I remember calling my dad from middle school off a payphone that had just accepted my "phreaks".... When the call went through, I felt like I had just conquered the Roman Empire.
Again -- without knowing more, I'm concerned that the audio signals will be too easy to copy or manipulate, thus turning a great and convenient way to pay for groceries at the store, into a nightmare of fraud. But, I could just be paranoid.
I work in Software M&A. This is a personal / business blog.