RFID is a technology that uses radio waves to identify objects electronically. It consists of tags that carry data, readers that can interrogate the tags, and software. Common applications include access control, asset tracking, supply chain management, and payment systems like Paywave. A survey found that respondents thought RFID could be applied to inventory control, logistics, library management, and healthcare. Further development is needed in medical and library uses. While RFID provides benefits over barcodes like storing more data, costs remain higher and standards are still being developed.