Remember that even under a government monopoly currency system, money is still created not by government, but by financial institutions, which bring dollars into existence through the act of extending credit.

FORBES: Private Currency Competition Is The Monetary Answer

Smaller carriers Nex-Tech and Cellcom are also doing a pilot database, says Chris Guttman-McCabe, VP of regulatory affairs at CTIA, a wireless industry trade association that helped bring the database into existence.

FORBES: There's Finally A Way To Make Your Phone Useless After It's Stolen