In the recent years, hacking has significantly increased, with this last year seeing a huge bump. Almost every day, we hear on the news that yet another site, business, or service has been the target of hackers.
Virtually every industry, and every American is a potential target. Even those Americans who do not voluntarily have an "online presence". Everything is stored online these days. The hackers want our identities, our credit cards, our bank accounts, everything is a target and for sale in the black market.
We need a better system of securing our online and offline identities. The Brits have secured their credit/debit cards for close to 2 decades. Why haven't we? Putting our credit/debit cards on smartphones is putting everything into one point of failure. We need something better.