This article is written by the Faceter team
EconoTimes recently reported that the US is planning to apply blockchain technology to address the issue of illegal migrants and criminal behaviour at the borders with Mexico and Canada. First of all, this is about using a blockchain to store and protect the data collected by CCTV cameras. At the moment, all video recordings are stored in centralized databases, which is extremely inefficient and unsafe. Firstly, they are vulnerable to cyber-attacks. Secondly, even the best staff are not capable of monitoring such a large number of video recordings. This means they cannot respond to illegal actions in a timely manner. Thirdly, a fairly large budget is required to store this amount of data.
Unfortunately, the simple application of blockchain in the system of data storage of any kind does not address all of the above-mentioned issues. However, the market already offers a solution which combines all the advantages of the blockchain, mining, neural networks, machine learning and fog computing.
Faceter Blockchain start-up came out in the industry not so long ago. The test version of the platform was released in early 2017, however, the development itself has been going on for a few years. Faceter is a software product for intellectual video surveillance powered by neural networks. It is used to detect faces and objects, and also to apply the event security approach (putting it simply, to anticipate events). The developers of the project, considering all the difficulties associated with creating such a product, decided to combine the advantages of the trainable video surveillance with blockchain technology, mining and fog computing. This will enable the user to quickly process a huge amount of data, analyze and store it. Moreover, the company intends to release a software product for “smart” cameras that will be able to detect dangerous situations and transmit the appropriate signal about them. Furthermore, any user will be able to connect their own camera and be rewarded as a result.
Potential customers of this project include not only public services and business but also home users. With Faceter’s help, they will get notified by their smartphone of family members returning home, of their assistants arriving (nannies, gardeners, etc.) or of strangers wandering around their house. And it is about unidentified individuals, not about yourneighbourss or regular passers-by. The camera is capable of memorizing your surroundings and identifying the emergence and “strange behavior” of unidentified individuals. For example, long idling at your door or walking around your home.
The system can also be configured to detect ignition sources, suspicious noise, strangers intruding into a house, etc. Potentially the Faceter can become part of the “smart home” and interact with other connected devices.
The first Faceter partners, which include one of the largest casino networks, pizzeria chain, and the largest bank in South Africa, have already tested the product’s first version. It can already be used in business to enhance security, improve customer relations and optimize personnel management. The product was also tested in Axis cameras and this is confirmed by the test reports.
Vladimir Chernitsky, co-founder and CTO Faceter, says: “Faceter is based on our accumulated experience and existing developments which is well known to the professional community as pay.cards and which our team designed in the previous project. In the future, we plan to expand Faceter’s capabilities and develop an intellectual event-based security system based on it. The new system will be able to recognize current situations and identify potentially dangerous ones by analyzing the chain of events.”
It is worth noting that Faceter completed its ICO in late March this year. In total, the project attracted investment of $28 million, $10 million of which were collected within 20 seconds of the presale. To date, the Faceter team has completed the distribution of FACE coins, and recently it became known that the first listing of the project is to take place in May.
To learn more about the Faceter project visit our website (https://tokensale.faceter.io/en/)
and official Twitter account (https://twitter.com/FaceterOfficial).
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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