Faceter

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ICO Faceter Logo
Country: Virgin Islands (British)
https://tokensale.faceter.io/en/
Platform: Blockchain
Token Symbol: FACE
Category: Internet

Product

Status:Past
Starts:
Ends:03/30/2018
Team:1 people
Whitepaper:download

rating

{91/100}

Team

Robert Pothier CEO, Co-founderRobert Pothier
CEO, Co-founder

About the project

In next 3 years over 1 billion cameras will be installed across the globe, producing petabytes of video recordings daily. Faceter is designed to perform big data video analysis in realtime – extracting faces, objects and events resulting in the transformation of these meaningless recordings into meaningful assets.

We use blockchain in three different ways:
  • for building a decentralized infrastructure (so called fog computing),which will meet the requirements of the facial recognition tasks;
  • for receiving payments from customers and fix orders in smart-contracts, and transferring payment to miners (participants of our fog network, with them we will sign up smart-contracts as well);
  • for issuing investment tokens on the Ethereum platform.
We need a decentralized infrastructure because it will help us to provide a consumer version of our solution and make our product affordable for homeowners and small businesses globally. Facial recognition and computer vision technologies are very expensive because they consume a lot of computer resources. As I mentioned we have a working solution and we have interest of potential business users. But current classic infrastructure architecture can't be used for providing mass market solution – it is too costly. So, we will develop our solution to be able to pass the processing work over to existing miners in the blockchain industry. This decentralization will drastically reduce the price of the solution. Even if we offer Ethereum miners 5 times more than they are currently getting to mine cryptos, it will be still financially feasible for us. With PoS becoming more popular there is a growing concern for miners as they have the hardware but mining less as mining pools continue to get larger and more demanding. In the future, smart-contracts with customers can also become part of collective security network, integrated with police databases. So that police will be able to distribute pictures of wanted criminals, lost kids, stolen cars and so forth.

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