Denis Opudo
Security of any country is one of the sensitive sectors to be left in the hands of anyone. Many companies have tried to get into the security venture but with a lot of precautions. There are very few startups that have come up to use technology in offering security services. This has made accessing the security services more expensive. The use of technology like B2B has well been offering security services. Substantial computing resources have made such technology to be expensive for the general public and firms.
Faceter’s decentralized surveillance technology has come in to fill the security gap. The tech helps cameras to detect faces, analyze and object video feeds. The solution can be affordable for each person by the use of blockchain. Blockchain will carry out the calculations using a group of miners. The concept gives the miners a good opportunity to make money. Furthermore, miners are in a position to make twice as much as what they make from mining Ether. Hiring this solution will be cheaper than the hiring of cloud services.
The team behind the solution has a good track record in computer vision and artificial intelligence (AI). Pay was the team’s first product that it launched in 2015. Pay is a smartphone app developed to scan number, name and period of validity on bank cards. In 2016 the team started to look for ways through which public security can benefit from technology. This took place via a project known as ScanFace which was then renamed Faceter. The product is already in use by different companies in South Africa.
The companies that took part in the piloting of the project were pleased with the results. They are now looking forward to signing a commercial contract. Independent testing carried out on the Faceter shows that the tech’s accuracy rate is 99.78%. The company’s surveillance technology is scalable. Furthermore, it is in a position to protect the public more so in crowded places. The company is trying to stop CCTV from just being used for retroactive purposes. The technology is in a position to automatically put on alarm systems and get in touch with the emergency services. It also helps in recognizing offenders face in advance of any crime taking place.
The app is looking forward to classifying people by use of their race, gender emotional state, and age. Furthermore, it hopes to recognize one’s weight and height and track people who have covered their faces. Come 2019 it hopes to develop technology that enables cameras to tell when an item has not been attended to or when a flight has broken out.
The company’s initial coin offering has drastically gone up. It has managed to raise $10 million from the sale of its tokens in just 20 seconds. Consumers will be required to pay a monthly fee of $9.99 for each camera. Government and corporations will also pay on monthly basis.
