Advances in smartphone technology, coupled with the development and introduction of myriad applications, are slowly making the wallet obsolete, argues Nick Bilton, who writes that all his important documentation -- other than a debit card and driver's license -- is now on his iPhone. "Soon enough, my phone will become my sole credit card, and the only thing left in my pocket will be my driver's license," he writes. "And at some point, the government will enter the 21st century and offer a digital alternative for that."

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