This is an interesting project, the videos demonstrate the use case and concept very well. I also see the credentials of people involved will make this a strong project. The video said about using 1 GHz of processing power from each smartphone in the network, does this mean it locks away this processing power for the network or there is a smart way of only using unused processing power, there by not impacting the owner of the smartphone with other day to day activities ?
Secondly, we also need to know on the security and safety of this access. I am sure we will have more technical information that talk about this and how the multi system resources are cumulatively used for big tasks that a super computer will be required to process in an efficient way.