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Smart Cards took off in Europe because the crooks there were more clever. By taking a card writer, an exact copy can be made of a swipe card on the spot. That's what they were doing in Europe, but not in the US. In the US fraud was usually just manually copying the card number or stealing the card itself. So there was not the incentive to invest in the additional card reader technology in the US.
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Ok, I understand the difference between the smart card and a swipe card. But I'm still not seeing the correlation between that and how this technology would replace passwords. If someone steals/you lose your smart card, what stops another person from stealing your identity, including accessing your computer? It seems that this would be less secure, rather than more. On the convenience/lazy side, it would seem ok, but overall, security included, it doesn't seem very...smart.
