If they really have a solution that is safe and they prove it, they will really disrupt the tattoo market. Losing the fear with a solution like this one will make people want more tattoos for sure !
Also a concern. If it's gone in a year, what does it look like in 6 months? Are you going to look like you have a nasty blob-bruise for 6 months as the definition fades and the ink migrates?
In 2016, it is estimated that the risk of an individual being diagnosed with cancer by their 85th birthday will be 1 in 2 (1 in 2 males and 1 in 3 females).[1]
According to at least one source[2] 14.5% of Australians have a tattoo.
I'm going to go with tattoo ink not being a major cause of cancer. If it were you would expect to see more skin cancers local to the tattoo, or some other particular type of cancer more common among those with tattoos.
I think we've got bigger problems than any potential cancer risk form tattoos. Bigger problems like alcohol, cigarettes, benzene in petrol, vehicle exhaust, combustion of coal for electricity, consumption of processed meats - these are all known carcinogens[3].
1. https://canceraustralia.gov.au/affected-cancer/what-cancer/c...
2. http://www.disappearink.com.au/post/tattoo-statistics-austra...
3. http://www.cancer.org/cancer/cancercauses/othercarcinogens/g...
It's probably worth keeping future regulation in mind for them, lest they accidentally get themselves regulated out of business.
Once the nature of the decay is worked out I could see an awesome opportunity for tattooists to artistically incorporate it for evolving designs.
This is very noticeable in the tattoo decision tree: it goes "so I really want a tattoo, where do I want it and which motive?" instead of "so I really want a picture of X on my arm, do I get it painted or do I get it tattooed?"