Science Fiction
Dictionary Latest By
"There's a poetry in the materials we use to construct our world of artifacts; it speaks of our long history as a technological species."
|
Heinlein wasn't the first person to think of applying computers to banking. In fact, researchers at the Stanford Research Institute invented "ERMA", the Electronic Recording Method of Accounting computer processing system in the mid-1950's. ERMA computerized the manual processing of checks and account management and automatically updated and posted checking accounts. Stanford Research Institute also invented magnetic ink character recognition as part of ERMA.
ERMA was first demonstrated to the public in September of 1955, and was first used on real customer accounts in the fall of 1956. General Electric delivered thirty-two units to the Bank of America in 1959 for full-time use as the bank's accounting computer and check handling system. ERMA computers were used well into the 1970s.
Even so, getting money from a bank not your own was still a problem, since you had to wait for the check to clear (you still do!). Heinlein's system has the advantage that all of the banks are connected by the same network, allowing any bank to hand out your money. And that didn't happen until the mid-1980's.
By the way, the next step in the banking chain, the Automatic Teller Machine, was introduced to customers in 1969. Don Wetzel holds the patent with two other men; appropriately, he thought of the ATM while waiting in line at a Dallas bank. At the time (1968) he was the Vice President of Product Planning at Docutel, a company that developed automated baggage-handling equipment.
(Thanks to Joel Terrill for suggesting this one.) Comment/Join this discussion ( 0 ) | RSS/XML | Blog This | Additional
resources:
Want to Contribute an
Item?
It's easy:
|
Science Fiction
Timeline
Europa Clipper Plate Carries A Special Message
'...a universal cryptogram — yet it is one which can be interpreted by any intelligent creature on any planet in the Solar System!'
Micro-Robots Are Smallest, Fully Functional
'With a whir, the Scarab shot from the concealing shadows of the corner where it had hidden itself.'
AI Enhances Images Your Brain Sees
'I could have sworn the psychomat showed pictures almost as sharp and detailed as reality itself'
Illustrating Classic Heinlein With AI
'Stasis, cold sleep, hibernation, hypothermia, reduced metabolism, call it what you will - the logistics-medicine research teams had found a way to stack people like cordwood and use them when needed.'
Deflector Plasma Screen For Drones ala Star Wars
'If the enemy persists in attacking or even intensifies their power, the density of the plasma in space will suddenly increase, causing it to reflect most of the incoming energy like a mirror.'
DIY Robotic Hand Made After Loss Of Fingers
'I made them... with the fine work of the watchmaker...'
Can A Human Land A SpaceX Rocket On Its Tail?
'If she starts to roll sideways — blooey! The underjets only hold you up when they’re pointing down, you know.'
Robot Snakes No Longer Stopped By Stairs
'...she dropped her hands from the wheel, took the robot snake from his box.'
|
Home | Glossary
| Science Fiction Timeline | Category | New | Contact
Us | FAQ | Advertise | Technovelgy.com - where science meets fiction™ Copyright© Technovelgy LLC; all rights reserved. |
||