In this invention there are 4 blades creating the hovering effect.  Most helicopters have one main blade and some military copters have two.  This hoverbike as the narrator states will also have rounded guards around the edges to protect bystanders.  The model in this video folds to a third of its size and can be folded and transported in a bag similar to a folding bike.  They also will be equipped with led lights.

They also scaled a model to a third of the size of the full build to help people see the potential if they are successful in their fundraising campaign.  This would definitely improve traffic especially in major metropolitan areas.

One of the commenters below asks some important questions like how high of an altitude would this fly and what speed would it travel at??