One car is stolen every 45 seconds in the U.S.
707,758 motor vehicles were reported stolen in the United states in 2016 -www.iii.org/issue-update/auto-theft
Car theft in the US alone costs insurance companies $3 billion. One car is stolen every 45 seconds in the U.S.
"The biometric vehicle access system market is estimated to be USD 442.7 million in 2016, and is projected to reach USD 854.8 million by 2021." -"www.marketsandmarkets.com › "The biometric vehicle access system market, in terms of value, is projected to grow at a CAGR of 14.06% from 2016 to 2021"- The vehicle security system market, in terms of value, is projected to grow at a CAGR of 7.2% from 2016 to 2021."-
Drivers can access vehicles with fingerprint, face, voice, eye and even palm recognition. But smart automobiles` security is not keeping up with same level of security awareness as banks or hi-tech companies. Remote keyless-entry systems use radio waves that are specific to a car maker, and the signals are encrypted. As the vehicle’s key is within 20 feet of the car, it transmits a signal to unlock doors, trunk, remote start or activate the alarm. ETH Zurich researchers found that encrypted signals can easily be intercepted and fooled.
Olilarm locks and unlocks on owner's bioelectric field. No one else has this technology. Olilarm uses the body`s own results of nerve firing patterns as the biometric key to locking/unlocking your car. This biometric key cannot be duplicated nor intercepted because it is not a radio signal but a living bioelectric field signal. Olilarm needs no fingerprints, voice recognition, facial recognition, iris, palm print, etc.
-It needs only YOU.
The range is adjustable from millimeters to meters.
Olilarm represents the future in car theft prevention, and is well advanced of everything on the market.
Olilarm could be a massive disruptive penetration in both the automotive and retail markets.
It would be produced by mass production: pc board, case, etc., as being of small size [3 inches x 2 inches]
at a price to cost ratio of 300 to-one; very easy to manufacture- small, everything is off the shelf.
Discussions have been held with Nissan and Toyota concerning the Olilarm. A large pension fund is on board as a matching co-investor.
ABOUT THE ENTRANT
Type of entry:individual
Number of times previously entering contest:2
William is inspired by:polio and cancer survivor; little or no sleep
Software used for this entry:yes