VeriChip Corporation Enters into a Memorandum of Understanding for Development of a Firearm's User Authorization System - 'Smart Gun' - Using VeriChip RFID Technology
PALM BEACH, Fla.
CEOcast, Inc.
Ken Sgro, 212-732-4300
ksgro@ceocast.com
Applied Digital Solutions, Inc. , an advanced technology development company, announced today that its wholly owned subsidiary, VeriChip Corporation, has entered into a memorandum of understanding ("MOU") with FN Manufacturing a leading gun manufacturer to develop a first in the world of firearms. The team's objective is an integrated User Authorization System for firearms using VeriChip RFID technology.
Located in Columbia, South Carolina, this firearms manufacturer produces small arms for military and police forces, as well as the commercial market. The company is engaged in R&D efforts to study and develop various technologies (commonly referred to and understood in industry and the private sector as "smart gun") that could limit the use of a gun to one or more authorized or recognized users.
The purpose of the MOU is for VeriChip and FN Manufacturing to evaluate the feasibility of developing a long term, strategic relationship to design, manufacture and sell a "smart gun" incorporating VeriChip's RFID technology. The team will investigate a variety of RFID tags including Implant technology.
Keith Bolton Ph.D., President of VeriChip Corporation, commented "The cooperative effort envisioned between our organizations is to apply VeriChip technology and capabilities in concert with the developments of our partner to ultimately realize a production worthy solution to the issue of "smart gun" feasibility. Our combined resources provide one of the most feasible approaches to this challenge given the current knowledge base, legislative restrictions/requirements, technological hurdles and market preferences."
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