I will try once again to explain to the ignorant why this will NEVER, EVER work, no matter how much you want it to.
It will do nothing about firearms already in existence, which, depending on whose numbers you use, are between 350 million and 1.2 billion. Yes, that's in the US.
Lawsuits will kill it. The first time an authorized shooter, cop or citizen, pulls the trigger, nothing happens, and the bad guy's gun works, they or their family will sue. I need it to FAIL TO THE UNLOCK STATE.
The first time an unauthorized shooter is able to access it, the victims will sue. The mfr needs it to FAIL TO THE LOCK STATE. It cannot do both.
Any disclaimer that the mfr is not responsible for failure of the lock means no one will buy.
There's no guarantee said gun will fit the ergonomics and tastes of existing shooters. People who don't shoot seem to think all guns are the same. Every brand, model, and even individual guns are different. I don't care how safe it is, if it feels like, say a Beretta 92, I will never buy one. Others don't like Glocks.
Guns are increasingly mechanically very simple. It needs repeated to you, no matter what the electronic component is, there will be a simple way to bypass it. If not bypassed, it can be jailbroken.
Your spouse/partner/buddy/trained kids/companion needs to be able to use it if you're down or not available.
Now, does this thing use batteries?  Do I need to comment on that?
Technology is irrelevant. The idea is crap.
So then I got commentary below an article about this.
 
"Well, that's just your OPINION! Those aren't facts."
Actually, yes, what I stated were facts. You could possibly come to a different conclusion, but I'd question your logical chain in doing so.
"The military manages to make missiles work on the battlefield will all kinds of electronics." They do. A missile works ONCE. And to do so, requires a large team of technicians performing regular maintenance, and spends a percentage of its time not ready for deployment. They cost thousands to millions of dollars.  Most of them are transported in secure, padded, isolated, electrically grounded containers against damage while in transit.
"My car has ABS and airbags! And they work!" How well does your ABS work after 1000 impacts? Or even 1000 panic stops? How many cars does your local dealer have in the shop for ABS failure? Airbags are DESIGNED to fail. That's what they do. Yet the last time I was hit, my airbag failed to deploy.
"Ever hear of a grandfather clause?"
21 of the revolvers in this image were made in the 19th century and still shoot. My daughter's favorite is a century old this year.  
Even if you sell a million smart guns (you won't), that's .35% of those in existence. Actual effect on guns used in contact crime cannot exceed .0175% (because a lot of gun crime is non-violent (license violations, carrying where not allowed, etc), and criminals will simply use other guns. You will spend billions, and have zero effect for generations.
If by "grandfather clause" you mean those valuable antiques will become contraband at some point, it's a shame about that 5th Amendment, isn't it?
Stop trying to be smarter than me about a subject you know nothing about.
Simple question: Once you've installed this mythical "smart" circuitry in the gun, let's say, a common Glock, where will it interface? What component will your smart circuit block to prevent the weapon from firing?
When you can answer that question, I'll then tell you why that won't last three minutes against someone with hand tools.
Until you can answer even that, stop pretending you have any knowledge of the subject whatsoever.
EDIT:  It's still going.  Some idiot invoked airbags again.  IIRC, there are 34 million of them awaiting recall.
One of my cars is on recall for an ignition switch that suddenly go from run to accessory. That's like a "smart" gun where pulling the trigger ejects the magazine.
 
