Friday, May 25, 2018

Faceter Is a Blockchain Platform for Video Surveillance and Video Stream Analysis

Faceter, a blockchain platform for video surveillance and video stream analysis, completed its ICO in March 2018. The project managed to reach the Hard Cap of $28 ml. thanks to the contributions of more than 80,000 investors. This is a great achievement for 2018 as the ICO market, on the whole, is experiencing a sort of recession and the only a small percentage of the projects reach the hard cap during Token Sales. This article discusses the business specifics and functions of Faceter and the problems that the platform is solving and development prospects of the video surveillance market in the near future.

Current problems of the video surveillance industry

To understand the importance and prospects of innovations in this market segment, it is enough to have a look at the recent numbers: the market potential is estimated to be $75 bln. while by 2019 there will be 841 mln. cameras installed across the globe.

Here are the major not yet solved problems that impede the development of the market for video surveillance solutions:

  • First, the video stream from so many cameras is a huge data array that is to be not only stored but also processed. Nowadays, the cloud technology is capable of partially solving the problem but even it is unable to cope with this load;
  • Second, CCTV cameras belong not only to state enterprises but also to commercial organizations and private persons. Merging them within the framework of one video surveillance system is a rather global task that requires not only resources but also software with good infrastructure;
  • Third, the modern video stream analysis systems still have a rather big share of false positives and failures, while the operators are unable to monitor all cameras simultaneously, therefore many accidents remain unnoticed;
  • Fourth, servicing a modern video surveillance system is very expensive, which includes the video equipment and maintenance of it, data storage etc.

The result is that the modern video surveillance system is inefficient, works unilaterally and is unavailable to the general public.

What does Faceter offer?

Faceter is developing a brand new decentralized system of video surveillance and unique software for face recognition and video stream analysis. Moreover, Faceter also found the solution for processing and analyzing video data online by merging the advantages of mining and cloud computing.

In 2017 the company launched B2C alfa-version of its product, which has been successfully tested by several large companies from SAR Currently the developers of the project are working on the beta-version of SaaS-solution for the mass market. Faceter partnered with distributed computing platform SONM for research and development. The Companies will test the work of Faceter face recognition and intellectual analysis of video stream algorithms on SONM IaaS capacities.

The developers expect that the use of cloud computing will offer more than tenfold decrease of the computational infrastructure costs. Let us recall that these costs are a significant part of expenses for the implementation of complex machine vision algorithms. MVP – the product should be launched by the middle of 2018.

How does the ecosystem of the platform work?

The goal of Faceter is to develop a system that makes video surveillance smart by making it capable of “thinking” for more efficient recognition of faces, objects and online analysis of a video stream. At the mature stage of development, all these capabilities will be merged into a single one, namely, “understanding” of the situation and reacting to it. If implemented successfully, this will significantly enhance safety and reaction time if emergency actions are required.

The main functioning elements and capabilities of Faceter network:

Blockchain. Faceter uses the capabilities of smart contracts to provide flexible and transparent computational methods as well as the mechanisms of cloud computational network.

FACE Token. It is the settlements basis of the decentralized network used as a flexible, transparent, trans-border and closed settlement mechanism for all members.

Cloud computing. Using video cards miners will perform computing for recognition in the decentralized network with the opportunity to earn a higher income. The algorithm of this technology has been tested and approved by LFW and MegaFace, one of the most reliable industry experts.

Face recognition. Expands the capabilities of video surveillance systems to identify potential threats and other actions such as a smiling client or a concentrated employee etc.

Data protection. Faceter processes the source of the video signal in the safe environment while only non-personified data is transferred to the decentralized network.

Decentralized network and miners

As the video stream analysis requires enormous computational power, the platform developers are planning to create a decentralized network of “cloud” computations, significantly decreasing the price of the product, which will make it affordable for private consumers and business owners across the globe.

The simplified operation structure looks like this:

So the platform ecosystem successfully integrates the computational power of the miners, which should also positively affect the development of the project as it increases its importance for the community. Any GPU owner can join Faceter network and earn FACE tokens as rewards for contributing to the global safety.

Turnover of FACE tokens in the platform ecosystem

FACE token is a part of Faceter business model, it is the nucleus of the decentralized network used as the Proof of Recognition as well as a flexible, transparent and trans-border settlement mechanism for all members. It is a cryptocoin for payments made by clients. FACE token is also used to make payments to the members of FOG decentralized network.

In simplified form, the turnover of FACE tokens and funds in Faceter ecosystem is shown below:


Also, a very important feature of the model is the fact that a part of FACE tokens will be burned by the developers, which facilitates the increase of the exchange value of the coin and motivated the holders to hold the asset, which is essential for the development of any cryptocurrency.

Development prospect and the use of video surveillance technology

Video surveillance can be useful not only to record crimes and maintain law and order (as nowadays) but also to estimate the crowd density at the stadiums and in the airports, monitor the efficiency of advertisement and showcases, analyze traffic jams, inform about accidents weather abnormalities, emergencies etc.

Moreover, “smart” cameras could independently evaluate situations potentially dangerous for a particular person and react to them. For example, if a camera noticed a theft or an attack attempt, it can call the police. In the event of health issues (i.e., loss of consciousness) it can call the emergency etc.

Naturally, intellectual video surveillance would be a perfect add-on for smart home systems. Imagine having an “invisible guard” at home that analyses the situation and can react to it.

Many experts mention that the potential of video surveillance cameras will not be fully implemented unless the cameras will provide for real bilateral interaction, instead of merely recording the reactions of people and maintain the records. Today the possibility of development of this technology is real and Faceter is doing exactly this.

Successful Token Sale and issue of FACE tokens

ICO took place at Ethereum blockchain with the token standard ERC20, which provides for the fast integration of project tokens with the cryptocurrency exchanges to ensure the coin liquidity.


The detailed information about the structure of FACE tokens issue and the distribution of funds raised during the ICO is shown below:

FACE token will be listed at several trading platforms and will become available for free trading in the nearest future.

Official resources of the platform

Please refer to the official website of the project and to the blog for the latest development news, new partnerships, and agreements.

The post Faceter Is a Blockchain Platform for Video Surveillance and Video Stream Analysis appeared first on NewsBTC.

from NewsBTC

Study Claims Cryptocurrency Values Based on Investor Sentiment

A recent study by the Warwick Business Schools claims that the whims and caprices of investors dictate cryptocurrency prices. The study, also claims that economic indices do not play a significant role in shaping the market dynamic. In short, cryptos are only worth as much as people are willing to pay for them.

Cryptocurrency Value is Subject to Mood Swings

Assistant finance professor at Warwick Business School, Daniele Bianchi, is the author of the research paper. The study considered the top 14 cryptocurrencies based on their market capitalization. The primary conclusion drawn was that hype and emotions played the most significant roles in determining whether the price of a cryptocurrency rises or falls. According to Bianchi:

There is research showing limited similarities between Bitcoin and gold but looking across the 14 biggest cryptocurrencies the high volatility of their price means that they can hardly be seen as a reliable savings instrument in the short-term, let alone the long or medium term.

Daniele Bianchi

According to Bianchi, unlike the USD whose value is predicated on many parameters like trade deficits and interest rates, cryptocurrency prices are based on sentiments regarding the platform and the projects built upon them. Bianchi also added his voice to the crypto bubble narrative saying that the market bears striking similarities to the dot-com bubble of the late 90s and early 2000s.

Thus, he expects many of the present day digital token projects to collapse once the bubble bursts. The finance professor then said that crypto investors, therefore, have to find the Amazon of the crypto market. This preceding statement is a reference to the fact that Amazon was one of the few firms to survive the dot-com crash.

A Different Perspective

Offering his views on the matter, Iqbal Gandham, the managing director of eToro acknowledged the role of investor sentiment. According to Gandham:

Customer sentiment is really important when it comes to new technologies and cryptocurrencies are no exception. In addition, clarity of regulation which currently is a moving target does affect prices and also sentiment. Personally, having a relatively stationary price for a few months is a positive, it gives time for the industry to mature.

In essence, Gandham is saying that investor sentiments alone do not account for the value of cryptocurrencies. While on the subject of value, the USD and many other fiat currencies operate on faith, a belief in the ability of the government to maintain the value. If that isn’t investor sentiment, one wonders what is?

Martin Weiss of Weiss Cryptocurrency Ratings recently provided a robust rebuttal of Warren Buffett’s much parroted “bitcoin has no value” rhetoric. Weiss identified three distinct levels of value for bitcoin, namely intrinsic, monetary, and exchange value.

Where do you stand on the cryptocurrency value debate? Do you believe cryptos have no intrinsic value? Let us know your thoughts in the comment section below.

Images courtesy of Warwick Business School. Shutterstock

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Norfolk Southern the Latest Railway to Join Blockchain Transport Group - CoinDesk


Norfolk Southern the Latest Railway to Join Blockchain Transport Group
U.S. railway network Norfolk Southern has become the latest industry player to join the Blockchain in Transport Alliance. One of less than a dozen Class I railroads in North America, Norfolk Southern announced Thursday that it would participate in the ...

from blockchain - Google News

Thursday, May 24, 2018

Accenture, IBM Push Blockchain, But Mainstream Usage Five Years Away - Investor's Business Daily

Accenture, IBM Push Blockchain, But Mainstream Usage Five Years Away
Investor's Business Daily
"Among public providers Accenture (ACN) is most visible in blockchain development efforts," said the report from Cowen & Co. The report says information technology service providers and cloud computing companies will aim to speed adoption. The report ...

from blockchain - Google News

Australia’s First Retail Crypto Asset Hedge Fund Will Launch This Year

Cryptocurrencies have proven to be an interesting topic of conversation in Australia. It is a largely regulated market, even though accessing this new form of money is still pretty difficult these days. Every Capital is the country’s first retail crypto asset hedge fund, and it’s making cryptocurrency investment a lot easier.

The Purpose of Every Capital

There has been a significant increase in the number of hedge funds paying attention to various cryptocurrencies. This particular market has been of keen interest to consumers and investors alike, for obvious reasons. Even with the recent price declines, overall interest in Bitcoin and certain alternative cryptocurrencies is not slowing down just yet.

In Australia, consumers and institutional investors are demanding more access to cryptocurrencies. Providing that access has proven somewhat difficult. There is a lack of competition among exchanges, although the recently launched CoinJar Exchange might make positive things happen in the near future.

Even so, traditional exchanges are not the solution institutional investors are looking for. Instead, they will seek more traditional investment platforms, such as hedge funds, investment applications, and so forth. Every Capital is trying to fill that void by becoming the country’s first retail crypto asset hedge fund.

The firm is mainly interested in contributions from everyday individuals, rather than institutions, although their product will attract users from both camps. The main purpose of Every Capital is to make investing in cryptocurrencies a lot more appealing.

One will be able to invest in cryptocurrencies and ICO tokens alike with Australian dollars, allowing for a more diversified investment portfolio. Additionally, the company will focus on security by utilizing cold storage, multisig wallets, and so forth.

For the time being, Every Capital’s venture is still in development. It is expected to roll out to select customers later this year. Making it easier for Australians to invest in various cryptocurrencies can only be considered a good thing. Additional methods for converting Australian dollars to cryptocurrencies are more than needed at this time.

from The Merkle

Germany’s Largest Stock Exchange Mulls Over Blockchain Move

Deutsche Börse AG, which owns the largest German stock exchange, is examining a potential move into the blockchain space according to reports.

This follows the introduction of Bitcoin Futures by American rivals and plans for a cryptocurrency trading app by the #2 German stock exchange.

Race to Catch up with Rivals

Head of clients, products and core markets, Jeffrey Tessler spoke at an industry event on Wednesday, which was organized by the Association for Financial Markets in Europe. At the London event, he stated that they are looking into offering cryptocurrency products and are ‘deep at work’.

Bloomberg reported that Tessler said: “Before we move forward with anything like Bitcoin we want to make sure we understand the underlying transaction which isn’t the easiest thing to do.”

Blockchain technology offers several advantages in the financial sector, including greater speed and transparency of transactions. However, it has not yet become user-friendly as addresses are currently hash functions and there can be mistakes when cryptocurrencies are integrated into exchanges. Some banks have been quick to adapt to the potential, and Santander recently released an app for cross-border transactions called One Pay FX.

Frankfurt is Germany’s financial capital, followed by Munich

Deutsche Börse AG owns the Frankfurt Stock Exchange, which is the world’s 10th largest stock exchange by market cap. It has attempted to merge with the London Stock Exchange on several occasions and was recently blocked from doing so in 2017 by the European Commission. In November, NewsBTC reported on German Fintech company Naga Group AG, which is listed on the Frankfurt Stock Exchange, launching their blockchain-based ecosystem for financial trading.

Rival German stock exchange Börse Stuttgart announced plans in April that they will release a cryptocurrency trading app this year. Sowa Labs, a subsidiary of the exchange, will provide commission-free trading for several of the largest cryptocurrencies by market cap. The application will be called Bison and is aimed to be released in September.

German Banks Await Regulation

Even though Deutsche Boerse are considering the move, Tessler expressed caution. He said: “We want to understand the volatility and make sure clients are in line and make sure regulators are in line.”

There is a lot of volatility in cryptocurrency markets as prices can fluctuate by 10% or more daily. This is likely to decrease as the technology becomes more widely used. Institutions have to be more careful about regulation than individuals as they are subject to legal requirements. One possible restriction will be GDPR as holders of information of EU citizens will be required to delete information if requested and this may not be possible on an immutable ledger.

Commerzbank announced today that they successfully used blockchain technology to confirm an FX transaction with ThyssenKrupp. They expressed support over the potential benefits of using distributed ledger technology, but pointed out that the regulations are needed to implement it across the board.

In a statement, Commerzbank said: “However, to fully realize these efficiency gains, technical, regulatory and legal requirements need to further develop.”

Blockchain companies across the world are waiting for regulation and some are actively seeking it. Ripple, who donated $4m in XRP to Ellen DeGeneres’ wildlife fund yesterday, have stated publicly that they aim to work with regulators. He argued the blockchain revolution will happen inside the system, instead of bringing it down.

Featured image from Shutterstock.

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from NewsBTC

Distributed Business Accelerator Launches to Cultivate Blockchain Startups

Distributed Business Accelerator Launches to Cultivate Blockchain Startups

As part of New York Blockchain Week, Distributed Business Accelerator (DBA) publicly launched their global blockchain accelerator community designed to cultivate an ecosystem of blockchain startups.

The CEO of the project is Tom Tao, formerly of IBM and Chainbase Accelerator. In opening remarks, Tao gave his outlook on the industry and extrapolated on where he saw DBA adding value to the blockchain ecosystem, noting that “for startups, obtaining resources and attention quickly is one of the critical factors to attain success.”

Tao laid out the goals of DBA which include equipping promising blockchain startups with all the tools necessary to accelerate their growth, giving them access to an incubator in which they can develop their product and helping them to plan out business strategies to deliver that product to the world.

He also touched on current issues which seem to be creating a general environment that leaves individual blockchain ecosystems too isolated. He considers the trend of short-term token trading and speculation, combined with early adopter incentive structures which stimulate that speculation, to be concerning. Both practices lead to early speculators earning more than real builders and entrepreneurs. He also finds airdrop methods to be inefficient, for the most part.

Offering an alternative and combating some of these entrenched difficulties are goals DBA hopes to achieve through its network and incentive structure. To that end, DBA will generate a token for incentivizing community participation. There will be no ICO.

Part of that community structure will also include blockchain-based voting. Community members (voters), vetted and hand-picked advisors (project consultants), investor teams and entrepreneurs who submit projects will make up its organic structural pieces.

The engaged community is meant to be collaborative with each piece adding its own value. Token rewards are delivered to members who participate in the creation of value through activities such as identity registration, referrals and voting on submitted projects. Community members are KYC’d to protect the integrity of the processes. Projects nominated by the community are screened by the accelerator, while the centralized investment team makes final decisions on investment. The system is then able to reward the community nominators and supporters through tokens based on the final investment decision for the project.

Projects currently in the ecosystem include decentralized storage product Genaro and risk-management platform DRC.

Initial advisors to the ecosystem include Qtum founder Patrick Dai, Factom founder David Johnston, and Singapore Management University professor David Lee.

Factom’s Johnston also spoke at the event from the perspective of Factom’s experience in the marketplace and where he saw DBA adding value, particularly the incentive structure that will encourage industry investors and community members to work collaboratively, publicly and transparently, in contrast to the system of secretive deals that exists currently.

The next month will see the launch of the DBA mobile app and the first community votes on projects.

This article originally appeared on Bitcoin Magazine.

from Bitcoin Magazine

Verge Developers’ Failure to Patch Previous Exploit Results in Heist of 35M XVG

There is never a shortage of drama or excitement surrounding the Verge cryptocurrency. Despite having made a lot of positive headlines over the past few weeks, Verge continues to stumble. Unfortunately, it is the second time an exploit associated with this project has been discovered. So far, over $1.7 million worth of XVG has been stolen, although the full impact remains to be determined.

Another Verge Exploit Causes Trouble

Earlier this year, it became apparent that the Verge blockchain had fallen victim to a massive exploit. At the time, hackers stole an undisclosed amount of XVG which was subsequently converted to fiat currencies through various exchanges. It is estimated that this theft involved 250,000 XVG, although that number has never been officially confirmed by the team.

While most people had assumed this would be the only exploit the Verge ecosystem would have to contend with, the reality is working out very differently. Instead, there is a new exploit which was discovered earlier this week. It seems hackers took advantage of the same weakness to steal another 35 million XVG, which is currently valued at just over $1.7 million.

Unsurprisingly, the two attacks share a few similarities. In fact, the attacks used the exact same exploit, which made the job a lot easier for the attackers. It is unclear why this exploit was not fixed the first time around, although various theories exist. Regardless, as these attacks should never be allowed to take place to begin with.

The exploit is the result of Verge network blocks being mined one second apart. This is a major problem for any cryptocurrency, especially the smaller ones such as Verge. Despite its high market capitalization, the recent hard fork wasn’t sufficient to prevent this attack from being exploited a second time. This was pointed out by a Reddit user shortly after the hard fork occurred, yet it appears few people took notice until it was too late.

While the Verge team has identified this issue as a “DDoS attack”, it seems a much bigger problem is lurking behind the scenes. A resolution to this problem is direly needed, and it seems another hard fork may be on the horizon. Suffering from the same issue twice in a few months’ time is unacceptable, especially for a project which is trying to take cryptocurrency mainstream by deploying an aggressive marketing campaign.

For the time being, it remains to be seen how this latest hack will affect the Verge price. If the 35 million XVG is quickly unloaded on the market, it will undoubtedly drive the project’s market cap down quite a bit. The previous incident didn’t have much of an impact in this regard, but the total number of coins stolen was a lot smaller as well.

from The Merkle

Commerzbank Conducts €500k FX Transaction Using R3's Corda

Thyssenkrupp successfully conducted a foreign exchange transaction using R3's Corda blockchain in partnership with Germany's Commerzebank.

from CoinDesk

Asian Trading Platform TrakInvest Announces Migration to Hedera Hashgraph

Trading platform TrakInvest has announced its migration to Hedera hashgraph. One of the first projects that will take advantage of this migration is the Digital Certifications Program (DCP), bringing academic certificates for Asian institutions on a public ledger.

Disclosure: This is a Sponsored Article

Bobby Bhatia, Founder & CEO of TrakInvest commented:

“We are very proud to be working with Hedera hashgraph on a number of initiatives. We believe Hedera will provide the best in class platform and technology solution for TrakInvest to execute its current and planned product offerings including certifications, Trak AI prediction tools, and financial products,”

Never before seen consensus protocol

Hedera hashagraph is a platform that uses a new consensus protocol. Unlike other cryptocurrencies, it doesn’t require a proof of work algorithm that is computationally intensive.

The platform uses an algorithm called virtual voting consensus, which was created by Dr. Leemon Baird. It boasts near-perfect efficiency in bandwidth usage and can support hundreds of thousands of transactions per second and verifies over 1 million signatures every second.

Finally, the time it takes for a transaction to become immutable, is measured in seconds. Consensus is 100% certain, with Hedera guaranteeing no changes.

The platform is also secure: being the only distributed ledger using asynchronous Byzantine fault tolerance. Having aBFT security is what enables Hedera to guarantee consensus in real time, as well as be resistant DDoS attacks.

Hedera’s ability to support thousands of transactions per second

Hedera’s ability to handle high volume transactions at lightning speed makes it a perfect complement to TrakInvest’s business model. The “learn, share, earn” business model gives an array of tools to the retail investor.

One of the most prominent services the trading platform provides traders is the “TRAK feature”, which allows users to share/follow real-time trading data of others for a fee. As the platform scales, Hedera is still able to handle these payments, keeping up with a real-time market that never sleeps.

TrakInvest already has over 100,000 users across Asia, since beginning in 2014. Since then, it has spread from its headquarters in Singapore to operations in Thailand, Hong Kong, and India.

The migration will also benefit existing partners of TrakInvest, like significant improvements in throughput, security, and transaction costs. Hedera looks to solve many existing distributed ledger chokepoints in speed, fairness, cost, and security.

Edgar Seah, Head of Asia Pacific for Hedera, said:

“Increasingly, organizations and applications want to use Hedera because of its speed, fairness and security. We will enable developers to build a new class of distributed applications never before possible, and are excited that TrakInvest has selected Hedera as its platform of choice.

Upcoming for TrakInvest

The future for TrakInvest is the launch of a new AI Engine tool, scheduled for release in August 2018. The AI Engine tool will give traders new market insights from heterogeneous data. TrakInvest’s upcoming offering is split into three parts: TrakInvest Knowledge Graph, Sentiment Engine, and Continuous Learning.

These three initiatives will allow anyone that has TRAK Tokens to access the engine and make more educated trading choices.

For more information on TrakInvest, visit their website. To chat with the team, visit their Telegram channel, as well as Facebook, Twitter, and LinkedIn.

from The Merkle