These are called binary embeddings, and they have been used successfully at pinterest (https://www.arxiv-vanity.com/papers/1908.01707/) and Tencent (https://paperswithcode.com/paper/binary-embedding-based-retr...)

I can't speak for the competition, but weaviate seems to support them: https://weaviate.io/developers/weaviate/concepts/binary-pass...