BiChip, a human microchip manufacturing company has recently announced about its new digital asset based chip. BiChip is a one of its kind human microchip that can read distance and connect to the internet.
Its latest update allows the chip to be turned into a payment system by integrating it with cryptocurrency wallets. Additionally, it can be used to store unique IDs, license and passport details, and the medical records of the microchip holder. However, its service is limited to storing the top cryptocurrencies such as Bitcoin [BTC] and XRP at present.
BiChip is a digital firm based out of Denmark and is a part of BEZH. BEZH is a trading and IT company that specializes in Internet of Things [IoT] and Augmented Reality [AR] based mobile applications. One of the official partners of BEZH is Microsoft Denmark.
With technologies such as BiChip, the chances of losing digital cash to hack or robbery become minimal by letting the users embed the assets within them.
The payment system used by the chip is based on Ripple’s technology which enables the users to store the cryptocurrencies. This saves the trouble of connecting the chip to the owner’s bank account. The technology also carries the possibility of enabling payments in the near future.
Regardless of its revolutionary advancement, people are appearing to look at the device with skepticism. The concept of installing a chip under one’s skin can sound creepy and dark. The big question is if the society is ready to accept the change.
BiChip is a controversial advancement to a technology and is yet to be accepted by the mainstream society. Some of the recent sources also say that the device has been quoted as “the mark of the beast”, referring to the Christian myth of the anti-Christ.
With all the negativity surrounding, a few also find this technological inception a positive effort. According to a tech-savvy Twitter user, the BiChip could ‘save lives’. The cryptocurrency-enthusiast exclaims:
“Guys have you thought about the medical implementation of your chip? People could have their medical history, blood type any pre existing conditions or medication they are taking on it. Paramedics could carry scanners, this could really save lives! #biochip #XRP #ripple”
The user added that he is in tune with the idea to an extent that he has ‘tagged his kids without thinking twice’. He also expressed that he wants to opt for the payment option as it will be a good counter to leaving his wallet at home.
An unofficial Ripple account, Ripple XRP Blog, also commented:
“Wait, what if someone knocks me out, are they able to steal my XRP by scanning my microchip? Or what if the tax guys chase me down, arrest me, scan my hand and now they know how much XRP i own? You would need to make the microchip undetectable, and lock access to it somehow.”
Miriah Kate Doyal, a skeptical Twitter user wrote:
“This is the Mark of the beast I’ve been reading Revelations about the mark of the beast”
The BiChip update has excited many but the idea of this technology going live is still getting mixed responses.
Subscribe to AMBCrypto’s Newsletter
Ripple official claims that in time banks will adopt cryptocurrencies but before that it will be small companies
Ripple to lay xCurrent base in India? Industry player talks about partnership
Litecoin [LTC/USD] Technical Analysis: Bear’s hunger for bulls reflected in price trend
Winklevoss Twins launch new app; say they are “at home” with the crypto-winter
Ethereum’s [ETH] Vitalik Buterin talks about non-financial applications of blockchain in a tweetstorm
BREAKING: Ripple class-action lawsuit rolls ahead; plaintiffs place new demand
XRP to $589 proponent and rumored Ripple insider Bearableguy123 resurfaces: Can 1635x growth occur in 28 days?
Bitcoin [BTC] futures on Nasdaq confirmed by company executive; to be launched in first half of 2019
Ripple CEO responds to NYSE Chairman’s comment on digital assets
XRP twitter army blocked by Dogecoin [DOGE] creator after facing backlash to his comment on Ripple
XRP ecosystem blooms as the year ends; Ripple, r3 leave animosity behind and more
Bitcoin Cash [BCH] ABC to be delisted from all exchanges, says Bitcoin SV [BSV]’s Calvin Ayre
Cardano [ADA] creates record by becoming 4th biggest loser in terms of trading price against all-time high
Tron [TRX]’s weekly report: New multi-signature wallet underway, Accelerator program gains momentum