VeriChip, the company that markets a microchip implant that links to your online health records, has acquired a credit monitoring and anti-identity theft company, Steel Vault. The combined company will operate under a new name: PositiveID.

This company now has tremendous power, creating a single microchip that can hold a person’s most private and sensitive health and financial information. Acquiring this power is met with criticism, as PositiveID could link or cross-check patient health records (from the HealthLink chip) to people’s credit scores. This technology could do extreme good; or, if used inappropriately, extreme evil.

PositiveID CEO Scott Silverman said: “PositiveID will be the first company of its kind to combine a successful identity security business with one of the world’s first personal health records through our Health Link business. PositiveID will address some of the most important issues affecting our society today with our identification tools and technologies for consumers and businesses.”

We’ve seen this technology in futuristic movies; now, it is reality. Consumer must be aware that our country is moving towards a technology age where microchips might essentially determine who we are and how we navigate through life. Before this product is marketed to consumers, it will need rigorous security testing and firewalls in place to ensure such personal data is used only for “good” purposes, kept safely, and under control of the individual consumer.