For many of us, the idea of having such a chip implanted in our body is an appalling one, but a 2021 survey of more than 4,000 people across the UK and the European Union found that 51% would consider it.
However, without giving a percentage figure, the report added that "invasiveness and security issues remained a major concern" for respondents.
Mr Paumen says he doesn't have any of these worries.
"Chip implants contain the same kind of technology that people use on a daily basis," he says, "From key fobs to unlock doors, public transit cards like the London Oyster card, or bank cards with contactless payment function.
"The reading distance is limited by the small antenna coil inside the implant. The implant needs to be within the electromagnetic field of a compatible RFID [or NFC] reader. Only when there is a magnetic coupling between the reader and the transponder can the implant can be read."