The Verichip has a dramatic affect on the relationship between medicine and business. Shortly after the first person had the Verichip planted into them, the media was anxious to have further knowledge about this new chip. The chip was regulated by the Federal Drug Administration (FDA) in the U.S first.
Many countries in Central and South America such as Brazil and Mexico made many business deals with this company. The initial order exceeded $300,000, with anticipated first year revenue approaching $2000, 000. Due to the large crime rate in those countries a large demand for this chip is needed. This was only in the first year of being on the market. Can you imagine how massive that number will be in few years with the aging of baby boomers? With in the United States, many people have had the Verichip injected into them. Having the chip placed within the body requires a monthly fee. The cost for each individual is ($9.95 U.S) per a month. It is interesting to see how this chip is important to save peoples lives; yet, many questions come to mind when the company starts to sale the product. People start to think if this chip is necessary to save my life? Or is it just another invention that needs to be sold in the market?
The Verichip will have a larger impact on the business world is a very short amount of time. It is not only used for locating people down or saving someones life. This chip makes it very easy for individuals to access their bank account and their personal information. This saves a lot of time for those who needed, which in our society today are business people. This chip will make the society flow in a faster speed, and also help eliminate many jobs which are achieved by many skilled workers. It will save a lot of money. It is a very safe chip. It can not be lost of stolen. Most importantly, it can survive for 20 years. This is a very reliable chip that most business people will consider having. Instead of carrying around many cards and wallets, this chip can have all the information inside it, and it will be safer and easier to handle.