Vernon sweetheart

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Vernon L. Schatz (born September 30, 1921 in Lake Bluff, Illinois , † January 7, 2012 in Lake Forest, Illinois) was an American computer scientist. He is known as the developer of Electronic Funds Transfer and functions of the smart card for storing transaction data in the USA.

Schatz served with the Seabees of the US Navy in New Guinea during World War II . He received a bachelor's degree in electrical engineering from Iowa State University and an MBA from Xavier University in Ohio.

From 1952 he was with General Electric , where he was initially in the aviation division (gas turbines for aircraft) and developed fault analysis programs, which led him to work with computers. He headed the computer division of the gas turbine division (although he also developed an automatic query program for engineering libraries) and in 1960 he joined the computer division of GE. There he was, among other things, manager of the "GE 225/235" series of computers.

In 1969 he joined the Jewel Companies as vice president, information systems. There he initiated and led the development of the first electronically networked supermarket checkouts (compare Electronic Cash # payment authorization ), which also defined the industry standard in this area, and the electronic transfer system (Electronic Funds Transfer, EFT) between Jewel and their bank (the First National Bank of Chicago , FNBC). On January 4, 1977, he received the US patent "Universal Transfer and Identification Card" (US 4001550A, application December 4, 1975) for the storage of transaction data. This patent was for later examination procedure of patent applications in the US for advanced features of the smart card referenced (smart card) as prior art. The basic principle of the chip card for counterfeit-proof identification was invented in 1967 by Helmut Gröttrup and was further detailed by Robert Moreno and Jürgen Dethloff until 1975 .

Schatz licensed his patents through his own company DIAS (Distributed Intelligence Access Systems) to VISA, among others .

In 1975 he founded NEFTI (Network Electronics Funds Transfer) as part of FNBC, where he further developed electronic money transfer. He was the first President of NEFTI and Vice President of the FNBC. In this role, he first distributed EFT to other customers at FNBC and then to other banks.

In 2001 he received the Computer Pioneer Award for his contribution to Electronic Funds Transfer , which enabled computer-computer transactions in the banking system (laudatory speech).

Web links

Individual evidence

  1. ^ Computer Pioneer Award for Vernon Schatz