In the dystopian novel 1984, author George Orwell envisions a world in which every citizen is being monitored by its, obviously, totalitarian government. We are seeing something like that already happening with the likes of NSA snooping on our computers without asking for anyone’s permission. Also, there are surveillance cameras in just about any public place you could think off.
So why bother with a decentralized system? For one thing, it won’t let anyone of us access all cameras in the network — and neither it should — but it will make the system much more efficient.
Making surveillance “smart”
First of all, you/we should realize that the video surveillance market is huge and growing, expected to be valued at $75.64 billion by 2022. So yes, there’s money to be made here, and if new/smart technology is added to the mix – it could also help make the world a slightly better place.
The system, currently being developed by the company called Faceter, would combine features such as facial recognition and object detection, which should allow it to understand a situation as it is unfolding, and respond to it in real-time. This, so called “event security model,” would be able to detect possible threats ahead of crimes being committed.
For instance, a face can be “blacklisted” on the network, and if it is detected on video surveillance – the owner of a store using Faceter’s service will be alerted via push notification on their phone. On the other hand, the same technology could recognize existing customers and alert the staff to treat them better.
Faceter already has some tech
The company’s white paper talks about how Faceter has developed its technology and business over the past few years. Also, there are some details on how the CEO and co-founder Robert Pothier was personally affected by a crime in which CCTV was ineffectual. That situation sparked the story of Faceter; to use the most advanced, artificial intelligence-based technology to make surveillance better.
And for what it matters, Pothier and his team have already worked with AI in the past, having developed the software for recognizing bank cards (Pay.Cards).
ICO is under way
Like many other blockchain-based projects, Faceter will have its own crypto token, marked as FACE. The company’s ICO is under way, with the presale already having attracted a huge amount of attention. According to the company, $10 million were raised in the opening 20 seconds, which is an impressive feat.
Faceter announced that the first exchange listing for its token will come on April 9, 2018, adding that “several more” exchange announcements will be unveiled in the near future.
The launch of a beta version of Faceter and a move into the mass market are planned for later this year, as well as developing the system to recognize gender, age, race and emotions of humans on-screen…
So is this a project you would consider backing? You may want to check it out even you answered “no.” 😉