Faceter ICO Review: Surveillance Systems Decentralized Across the Blockchain

Faceter ICO Review: Surveillance Systems Decentralized Across the Blockchain

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Under observation, we act less free, which means we effectively are less free.

It was the rogue ex-CIA contractor Edward Snowden who said that. Snowden got into big trouble for leaking classified information, but his actions were partially vindicated when the true scale of US-led global surveillance programs reached the public domain.

Surveillance is a necessary evil, you might argue, a byproduct of the post 9-11 geo-political paranoia. But when the duty to protect becomes intrusive and the laws of privacy are blatantly flouted, the problems start, and individual freedom becomes a token to play with.

Surveillance is big business, with an expected industry turnover of almost $76 billion by 2022. Traditional surveillance relies mostly on CCTV and good old-fashioned leg-work.

The blockchain era has opened up new ways of conducting surveillance, and Faceter is a brand new ICO that proposes the decentralization of surveillance through the blockchain.

Faceter: the first blockchain surveillance system for customers

Faceter intends to enhance electronic surveillance systems through improved facial recognition techniques, real-time image analysis, machine learning, and other measures.

According to its marketing blurb, Faceter is a system that makes smart video surveillance and provides cameras with ‘eyes’ – face recognition, object detection, and real-time video content analysis.

This ICO’s value proposition centers around the provision of a network of miners who will make these services become affordable through decentralization. Its product has a wide range of potential applications, such as the security market, retail environments, etc.

Faceter in figures & quick facts

  • Token name – FACE
  • Total number of tokens issued during pre-sale – 108,000,000
  • ICO pre-sale start date – February 5th 2018
  • ICO pre-sale end date – February 15th 2018
  • Total number of tokens issued during ICO – 300,000,000
  • ICO start date – February 15th 2018
  • ICO end date – March 30th 2018
  • Token worth – 1,000 FACE = 0.0872 ETH

Bonus Program

50%, 40%, 30%, 20% during pre-sale, determined by whitelist position.

20% during ICO, for early contributors only.

The Faceter token

The company will issue its own currency, the Faceter token (FACE), based on Ethereum’s ERC-20 standard.

Once created, the FACE token will be distributed as follows:

  • Free sale – 40.8%
  • Reserve fund – 30.8%
  • Team bonus – 15%
  • Bounty – 0.05%
  • Advisors – 6%
  • Early-stage bonus – 6.9%

The team

Faceter’s website presents a core team of seven people, plus three advisers.

The team members involved in this ICO feature rather impressive backgrounds, from blockchain experts to software developers, UI design, etc.

Social media presence and digital footprint

Here are the numbers for Faceter at the time of writing (Late February 2018).

  • Twitter – 1,800 followers
  • Facebook – 26k followers
  • LinkedIn – 48 followers
  • Telegram – 11k followers

Competition

Faceter is pretty much alone in the blockchain-based video surveillance stakes, as no other ICO currently offers any similar services.

This puts Faceter in a prime position in the market, as no competition means a virtual monopoly at this point in time.

Additional information

Faceter’s ICOBench review

White paper

Consult Faceter’s white paper for more information about the platform, additional features and services.

Conclusion

Video surveillance, face recognition, and other such measures are always thorny issues. As expressed at the beginning of this piece, the boundary between security and privacy is a very fine one indeed.

Faceter offers to enhance video surveillance with machine learning, better face recognition, and a number of other features. While these new capabilities will undoubtedly create a better environment for those watching, the other side may not feel so comfortable about it.

Nevertheless, from a purely ICO perspective, Faceter appears to be doing rather well, as it sold $10m worth of tokens in 20 seconds, according to its website, which is an impressive feat.

Faceter is, and pardon the pun, one ICO to watch.

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About Michael

Michael is an editor at CurrencyTimes, with a background in energy and economics. He keeps an eye on Blockchain's applications in building smarter and more equitable energy access globally.

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