Q. Don’t our phones do the same things as what you are pitching? Other than the blockchain part?
- Your phone only has NFC ability at this point. Also there are similar projects starting to be developed but they all go through WIFI. WIFI isn't everywhere and if the power goes out, you lose your WIFI. Our system has a failover backup in the case of it not working. NFC is only able to reach within 1.5-2" of the reader whereas RFID has a much longer range which allows it to be more usable and not need to touch things in order for it to work.
Q. How will BIO tokens be used?
- They will be the main driver of communication from chip to device via the blockchain.
Q. What main industries are you targeting?
- Our primary target will be mobile cold storage but otherwise any industry that uses keys to operate! Our use cases range from payments, authentication, supply chain management, data verification, and security; just to name a few
Q. How are you guys getting partnerships in place where this tech will be used?
- So far, we have gotten a lot of positive response from our project. We have some connections with other larger companies and groups that we will use to our benefit regarding connections and contacts.
Q. How many tokens will be available?
- A total of 500 million tokens will be released to the public.
Q. Why is there no roadmap?
- We have recently redesigned our website and are working on many projects at once. We are currently developing our roadmap based on the fact that we now have to release tokens via AirDrop to remain compliant with the SEC
Q. How long have you been working on this project?
- We’ve been hard at work since August of 2017.
Q. Is this a utility or a security token? Is the US allowed to participate in the airdrop?
- BIO (BioCrypt) is a utility token and everyone is allowed to participate in the airdrop.
Q. How does the combination of RFID and 2FA work? Will I always receive some sort of PIN on my phone to be able to start my car, open door, etc.?
- Yes, you will have to confirm with your phones authentication as well as the wrist band or implanted chip.
Q. What is your end goal?
- Completely eliminate the need for antiquated keys and wallets making life more convenient and easier for everyone.
Q. Can you just use BIO tech with your phone instead of having an implant or wearable device?
- You can just use your phone, but you will lose out on a lot of the potential use cases we will be implementing and requiring you to scan the chip.
Q. Where are you guys based?
- Headquarters located in Binghamton, NY United States
Q. Who is the target audience?
- We are targeting a younger demographic (18-35) year olds. Early tech adopters who are eager to test the boundaries of innovation. Visionaries and creatives that don't conform with societal norms and are looking for ways to improve human interactions.
Q. When is the ICO going to be held? And how do I join it?
- There is currently no ICO. Due to SEC regulations we have had to go the route of an airdrop to distribute our tokens.
Q. How will BIO tokens be used? And is their any incentive for people to hold BIO tokens?
- Tokens will be utilized to transport data back and forth and can also be used to purchase future BioCrypt products at a discounted rate. We are still working out particulars but we plan on implementing benefits by allowing users to hold a specific amount in order for them to use our specific products (instead of a subscription based model). Details will be released farther along in our development
Q. Has there been a scientific study regarding implants in humans?
- Well there are many people living with pacemakers. Their main concern is that an outside magnetic field will interfere with their electronics. The BIO chip will create far smaller electromagnetic field than the cell phone stuck to your hip. Extensive research has been done to determine if low frequency electromagnetic radiation has adverse health effects and the scientific consensus is that it does not.
Q. Will tattoos affect chips? The Apple Watch has had issues reading through ink
- The apple watch uses green LED lights to measure blood flow and calculate heart rate. Tattoo ink will have no effect on the mechanism of action of BioCrypt devices, which communicate via radio waves.
Q. Just a curious question, I love your product a lot, but why does it need blockchain for? I think we can just implement it in our daily live without blockchain
- Blockchain is far more secure than going back to a centralized or local database. Also, it gives us greater scalability and elasticity when we need it.
Q. Is the implant easy to remove or replace later?
- The chips are designed for easy removal. Unlike animal transponders, the chips are not coated with biobond or parylene, making removal or replacement easy.