Siemens and GE to develop new RFID Technology

Siemens and General Electric have announced they will team up to develop a new RFID-based technology to make container shipping more secure.

The Commerce Guard project will develop RFID-based devices to determined it shipping containers have been tampered with in transit. The reusable Container Security Device will cost approximately $100 and will record transit information from inside the container.

A recent report from Research and Markets found that "RFID products have an enormous market potential in China. The market is driven by the mandates issued by Wal-Mart and other retailers."

China is expected to use more than five trillion tags annually in sending supplies to Wal-Mart.