The same set of video cameras records in all directions, which means that the user will have instantly accessible proof of any incident right on their smartphone. With the launch of the system, the company is receiving fully refundable $30 deposits towards the $300 total purchase price of the product.
Customers who have preordered the system will be the first to be notified when it is available, as well as the first to get it after they pay the rest of the amount that adds up to the full price of the product. If someone changes their mind about the preorder thing, the customer can just e-mail the company and request a refund on the same method of payment that they used to make the deposit.
As TechCrunch notes, this is not the first company to develop an ADAS system for bicycle users. A similar system from an Israeli start-up called Ride Vision has comparable capabilities.
Jonathan Denby, the CEO and founder of Streetlogic, has told TC that their system is "custom-tailored" to provide "smart safety features to riders," instead of "using the vision system to get the riders of scooters to play more nicely on city streets."
We have not experienced either system, so at this point, it is all up to what each company has stated about its product. Until these systems become commonplace, and even after they do, we suggest that you ride with care and have your safety as your number one priority. Dents and scratches on vehicles can be fixed with relative ease, while human bones take months to heal.