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
Ver dismisses rumours of BCH collapse, RippleNet update’s ‘new functionalities’ and more
Crypto News – 20 June – Roger Ver on BCH collapse rumours, Caitlin Long on Facebook’s Libra and more
— AMBCrypto (@CryptoAmb) June 20, 2019
Crypto News – 20 June
BTC outperforming all conventional assets
Is investing in Bitcoin better than any other traditional asset? Data seems to suggest so.
Read more at https://bit.ly/2WOYtyg
Gerald Cotten’s deviousness and downfall of QuadrigaCX
The Ernst and Young report suggested, right off the bat, that the exchange was muddled in internal administrative strife, due to a lack of proper accounting.
Read more at https://bit.ly/2L5smrN
Skepticism about Libra is natural: Sheryl Sandberg
Facebook’s Sheryl Sandberg said that the reaction to Libra was only natural and that they were preparing to meet regulators.
Read more at https://bit.ly/2WTq9lt
FB, WhatsApp and Insta may be banned by countries?
Caitlin Long stated that Libra’s launch would result in local currencies taking a hit and facing devaluation.
What would that lead to?
Read more at https://bit.ly/2KZVoJg
Tron’s DApps record $15.9 million in 24-hour volume
Tron’s Justin Sun, recently announced that Tron’s DApps were beating EOS and Ethereum DApps, with a 24-hour volume of $15.9 million.
Read more at https://bit.ly/2IsKieb
R3 partners with Ripe.io to create food traceability blockchain
Ripe Technology (ripe.io) will be using R3’s Corda Enterprises to create a food traceability blockchain on Microsoft Azure.
Read more at https://bit.ly/2Xry6mj
FB too late to crypto game, claims Tim Draper
Draper acknowledged FB’s recent entry into the market, welcoming it as a great step towards the endorsement of cryptocurrency.
Read more at https://bit.ly/31Cwx4a
Subscribe to AMBCrypto’s Newsletter
Ripple’s partnership with Euro Exim Bank explores possibilities other than the use of XRP
Ethereum Classic [ETC] community welcomes Atlantis Hard Fork
The first $BEXAM IEO successfully completed on X-Hive Exchange
Calvin Ayre rides the Libra wave; floats unlikely Facebook – nChain – Bitcoin SV partnership
Using Ripple’s tech is five times more expensive than Western Union’s present system, says CEO Hikmet Ersek
Bitcoin [BTC]: #DropGold campaign gets called out for being ‘Bitcoin cartel’
Tron’s [TRX] Sun Network testnet goes live as Justin Sun places bet on its ‘unlimited scaling capacity’
Gaming giant Ubisoft takes its first steps towards bridging the gap between crypto and gamers
Tron join hands with LATOKEN to become an IEO payment token
Convincing Warren Buffett to buy cryptocurrency in just three hours is unrealistic, admits Tron’s Justin Sun
Facebook’s Libra speculated to wash away MoneyGram; Ripple effect on the horizon?
India: New RTI response clarifies India’s stand on cryptocurrency regulation
Bitcoin worth $300,000 at the center of an alleged scandal involving Brazil’s Justice Minister, The Intercept
Binance steps up its game by introducing tokens pegged to Bitcoin [BTC]