Technology has developed very fastly and still continue that development. Yes to use latest technology passport should be converted into microchips for frequent Travelers. You have mentioned the reasons of this conversion. I have read some articles from http://helpwithessays.org/it-is-not-tough-to-find-a-reliable-essay-writing-service/ which are best articles on the topic of Latest Technology. So, these articles very helpful for everyone.
We cannot say it was a good idea or not. But according to essayontimecom review it might be helpful to the travelers to be free and easy if there are microchips rather than passports. It makes them safety too. I feel this must be tried.