Smart cards can be used for a variety of purposes, including storing a user's financial facts, health insurance data, credit card numbers, and network identification codes and passwords. They can also store monetary values for spending.

The correct answer is True.

Explanation:

Smartcards are determined by the internal structure of the memory handled by the microprocessor. They are manipulated by readers manufactured for that specific purpose. Smart cards have made their entry into Cuba, an entry that has been really slow, but with the potential attributed to such technology, it seems to promise an overwhelming step in a society that is moving towards computerization.

True

Explanation:

Smart cards are basically debit or credit cards that contain a small microprocessor chip. Visa was the first credit card company to use them in 1993 (then came Mastercard and Europay), and by the early 2000s it became the standard credit or debit card in most countries except the US. For some strange reason large card issuers like Visa and Mastercard refused to use it in the US until 2013. The advantage of smart cards is that the chip is much safer than the previously used magnetic strip. It was relatively easy to copy information from a magnetic strips, while it's much harder to do with a chip.

Since the card's chip can hold personal information and store a lot of data, it is now being used for other purposes, e. g. public transportation, healthcare, personal identification, etc.