It is something you have, until it is automatically downgraded to something you know. I could create all manner of elaborate schemes that involve tokens and bio

It is something you have, until it is automatically downgraded to something you know. I could create all manner of elaborate schemes that involve tokens and biometrics and geolocation, but if that scheme simply produces a one-time code for you to put in your brain and produce at will, I'm still using a knowledge factor at the point of authentication.