> the banks/governments give the people devices to use for these things,
Give?

The devices will cost "a reasonable amount" and have GPS tracking "for your safety".

Most banks here (nl) give you a dumb coincell battery powered code-calculator, either with or without smartcard access to your banking-card. Basically some form of TOTP or challenge-response system.

Those devices have no network, no connectity, no gps, and no interface besides a tiny 7-segment lcd display and some 0-9 buttons for pincode entry.

I'd be satisfied with that.