Faceter

Faceter is the first decentralized surveillance system for consumers.

About Faceter

Faceter is a decentralized surveillance system for private and commercial use. The platform will utilize distributed fog computing technology in order to enhance the visual capabilities of traditional surveillance systems, providing a more capable product at a lower cost compared to existing solutions.

Token Sale Use of Blockchain

Product

3.4
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

3.0
N/A
3 - Has growth potential.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

5.0
N/A
5 - Hardly any (or no) competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.

Product

In its current stage, Faceter has developed an open source library, pay.cards, which will assist with the development of the Faceter platform. Pilot tests for face detection have been launched in South Africa, and it is stated that company representatives are satisfied with the results and ready to sign commercial contracts. Competition in this sector is relatively low, and existing solutions have not seen new development in many years, making security surveillance an area with potential for disruption. Faceter’s facial recognition algorithm ranks in the top-10 of all time in verification test results on Megaface and the top-5 results serveyed to date on LFW (these results can be found through the Faceter website).

Product Whitepaper

Use of Blockchain

3.8
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

4.0
N/A
4 - Innovative use of blockchain technology.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

4.0
N/A
4 - Generally disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

4.0
N/A
4 - Token is essential to platform.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

4.0
N/A
4 - Mostly decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

3.0
N/A
3 - Interesting.

Use of Blockchain

FACE tokens follow the ERC20 token protocol and will be used in exchange for services on the Faceter platform. Faceter is developing a specialized technology utilizing fog computing for processing data and a neural network, so the need or justification for a custom token is evident. Facter’s advantage increases along with user adoption levels, since the visual recognition capabilities of the platform increase as more data is processed. FACE tokens are used as a means of exchange as well as a method of issuing licences to clients in order to send a video stream to the Faceter platform.

Use of Blockchain Roadmap

Whitepaper

3.8
Whitepaper
Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

3.0
N/A
3 - More information required.

Whitepaper

Overall, the Faceter whitepaper contains a sufficient amount of information regarding its business plan and market research. Technological details of the platform are discussed, but not in great detail, giving primarily a broad, high-level overview of Faceter from a technological perspective. The document is well organized and visually appealing, which is especially important in the case of Faceter, since one of its value propositions is a stylish and easy to use product interface.

Whitepaper Compliance

Roadmap

3.2
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

4.0
N/A
4 - Long term.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

3.0
N/A
3 - Imperfect but available, or using substitutes.
Current Position

Where is the project now, relative to its vision and plans?

3.0
N/A
3 - Getting there.

Roadmap

The roadmap in the Faceter whitepaper spans from 2014 to 2019 and is divided by yearly milestones. Up to 2018, Faceter has developed a proof of concept and an open source library that will contribute to the development of the final product. Most of the planned developments in 2018 include adapting Faceter to use distributed computing, as well as developing applications for a variety of platforms (Android, iOS, etc.) Developmental milestones are primarily focused on enhancing the visual recognition capabilities of the product.

Roadmap Company and Team

Compliance

2.8
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

4.0
N/A
4 - Distinctive use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

2.0
N/A
2 - Primarily, with few additional rights.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

3.0
N/A
3 - Limited to blanket standard.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

3.0
N/A
3 - Semi-professional (e.g. Howey Test)

Compliance

Typical risk aversion and disclaimer documentation is included in the whitepaper, stating that FACE tokens are not intended as securities. It is not indicated whether the token sale will abide by KYC guidelines, however it is stated that residents from the United States will not be able to participate in the token sale.

Compliance Token Sale

Company and Team

4.0
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

4.0
N/A
4 - Fully assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.

Company and Team

Eight team members are included in the whitepaper, presented with job titles, short descriptions of proficiencies and professional experience, as well as links to social media profiles. The team’s overall skill set is fairly balanced with respect to business and technology, and certain team members also possess extensive experience with security technology, having worked with integrated security solutions at the state and city levels. The CTO is quite experienced with neural network related technology development, and has led the Faceter’s team to develop the pay.cards open source library for data recognition, which enables use of a mobile device’s camera to capture the data from a payment card in real-time.

Company and Team Product

Token Sale

2.8
Token Sale
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

3.0
N/A
3 - Justifiable.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

3.0
N/A
3 - Justifiable.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

3.0
N/A
3 - Rough estimates, but sensible.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

3.0
N/A
3 - Sufficient company/community interest balance.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

2.0
N/A
2 - Minor exposure and interest, or ambivalent reception.

Token Sale

The total number of FACE tokens is 1 billion (40.8% for sale, 30.8% for the reserve pool, 15% for the Faceter team, 0.5% for bounties, 6.0% for advisors, and 6.9% for sale bonuses). Allocation of funds is included in the whitepaper. The soft cap is $5MM USD and the hard cap is $40MM USD, where 1000 FACE = 0.0872 ETH. The token sale begins on February 15, 2018.

Product

In its current stage, Faceter has developed an open source library, pay.cards, which will assist with the development of the Faceter platform. Pilot tests for face detection have been launched in South Africa, and it is stated that company representatives are satisfied with the results and ready to sign commercial contracts. Competition in this sector is relatively low, and existing solutions have not seen new development in many years, making security surveillance an area with potential for disruption. Faceter’s facial recognition algorithm ranks in the top-10 of all time in verification test results on Megaface and the top-5 results serveyed to date on LFW (these results can be found through the Faceter website).

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

3.0
N/A
3 - Has growth potential.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

5.0
N/A
5 - Hardly any (or no) competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.
Product Score:
3.4

Use of Blockchain

FACE tokens follow the ERC20 token protocol and will be used in exchange for services on the Faceter platform. Faceter is developing a specialized technology utilizing fog computing for processing data and a neural network, so the need or justification for a custom token is evident. Facter’s advantage increases along with user adoption levels, since the visual recognition capabilities of the platform increase as more data is processed. FACE tokens are used as a means of exchange as well as a method of issuing licences to clients in order to send a video stream to the Faceter platform.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

4.0
N/A
4 - Innovative use of blockchain technology.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

4.0
N/A
4 - Generally disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

4.0
N/A
4 - Token is essential to platform.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

4.0
N/A
4 - Mostly decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

3.0
N/A
3 - Interesting.
Use of Blockchain Score:
3.8

Whitepaper

Overall, the Faceter whitepaper contains a sufficient amount of information regarding its business plan and market research. Technological details of the platform are discussed, but not in great detail, giving primarily a broad, high-level overview of Faceter from a technological perspective. The document is well organized and visually appealing, which is especially important in the case of Faceter, since one of its value propositions is a stylish and easy to use product interface.

Category Breakdown
Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

3.0
N/A
3 - More information required.
Whitepaper Score:
3.8

Roadmap

The roadmap in the Faceter whitepaper spans from 2014 to 2019 and is divided by yearly milestones. Up to 2018, Faceter has developed a proof of concept and an open source library that will contribute to the development of the final product. Most of the planned developments in 2018 include adapting Faceter to use distributed computing, as well as developing applications for a variety of platforms (Android, iOS, etc.) Developmental milestones are primarily focused on enhancing the visual recognition capabilities of the product.

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

4.0
N/A
4 - Long term.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

3.0
N/A
3 - Imperfect but available, or using substitutes.
Current Position

Where is the project now, relative to its vision and plans?

3.0
N/A
3 - Getting there.
Roadmap Score:
3.2

Compliance

Typical risk aversion and disclaimer documentation is included in the whitepaper, stating that FACE tokens are not intended as securities. It is not indicated whether the token sale will abide by KYC guidelines, however it is stated that residents from the United States will not be able to participate in the token sale.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

4.0
N/A
4 - Distinctive use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

2.0
N/A
2 - Primarily, with few additional rights.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

3.0
N/A
3 - Limited to blanket standard.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

3.0
N/A
3 - Semi-professional (e.g. Howey Test)
Compliance Score:
2.8

Company and Team

Eight team members are included in the whitepaper, presented with job titles, short descriptions of proficiencies and professional experience, as well as links to social media profiles. The team’s overall skill set is fairly balanced with respect to business and technology, and certain team members also possess extensive experience with security technology, having worked with integrated security solutions at the state and city levels. The CTO is quite experienced with neural network related technology development, and has led the Faceter’s team to develop the pay.cards open source library for data recognition, which enables use of a mobile device’s camera to capture the data from a payment card in real-time.

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

4.0
N/A
4 - Fully assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.
Company and Team Score:
4.0

Token Sale

The total number of FACE tokens is 1 billion (40.8% for sale, 30.8% for the reserve pool, 15% for the Faceter team, 0.5% for bounties, 6.0% for advisors, and 6.9% for sale bonuses). Allocation of funds is included in the whitepaper. The soft cap is $5MM USD and the hard cap is $40MM USD, where 1000 FACE = 0.0872 ETH. The token sale begins on February 15, 2018.

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

3.0
N/A
3 - Justifiable.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

3.0
N/A
3 - Justifiable.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

3.0
N/A
3 - Rough estimates, but sensible.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

3.0
N/A
3 - Sufficient company/community interest balance.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

2.0
N/A
2 - Minor exposure and interest, or ambivalent reception.
Token Sale Score:
2.8
The results of MegaFace and LFW are shown on the Faceter website. However, the results are quite technical. How would you describe to a layman how you match up with your competitors and what the results indicate?

Megaface runs various verification tests of technology types against certain datasets that they have in their testing database. According to the results, Faceter ranks in the top-10 all time in verification test results.

LFW provides information for supervised learning for pairs of images where “matched” or “mismatched” label results are given. Faceter ranks in the top-5 of results surveyed to date.

It is stated in the roadmap of the whitepaper that representatives in South African companies are "ready to sign contracts to use the product for commercial purposes". Was this a verbal agreement or was it written? Are there testimonials from these representatives available?

The examples we can quote are our PoC at Debonaires Pizza in South Africa; our relationship with SAP partners EPI-USE and our partnership agreement with Axis Communications, a global hardware distributor.

They are written undertakings however as negotiations are ongoing, and we are under NDA, we are unable to disclose the pertinent information to external parties at this stage.

It is stated that Faceter hardware solutions will be "capable of performing primary video stream processing and its obfuscation on embedded chips". How will these devices interact with the blockchain and what benefit is there for processing to take place within the device? How does this affect Faceter's goal of distributed computing?

Once our solution is embedded into the camera’s hardware micro processing chip, the interaction with the database will result in smart contracts being established to drive both license sales to consumers as well as completion of proof of recognition by miners in order for miners to earn FACE tokens.

It is this decentralized structure that creates affordability for consumers to access the technological capability of our offering, at an affordable cost. The alternative years’-long development to produce affordable chips that are able to recognize people locally. This video explains in some detail: https://www.youtube.com/watch?v=VNvdBjsKZ70&t=25s.

 

How does the proposed proprietary blockchain solution compare with existing systems? What, on a technical level, allows Faceter's future blockchain to operate and how does it differ from the competition? If you can, please comment on how Facter plans to deal with scalability and transaction rate. What progress has been made to develop this solution? If any, is this available on GitHub?

There are no true competitors in the marketplace who are targeting the provision of this solution to the consumer. Faceter also targets business and government in the same way that competitors do. Utilizing fog computing and miner’s Graphic Processing Units we are able to scale at speed. In addition to this, we do not store any images that consume large amounts of storage capacity and processing power – we store images in the form of a neural map number string (or hash), taking advantage of the substantially smaller size of this data range.

What steps has Faceter taken to ensure that FACE tokens will not be considered securities by regulatory authorities (other than disclaimers)? To what extent have legal professionals been involved to oversee the operations of Faceter?

The FACE token is a utility token, and we have received legal advice in regard from lawyers.

What are Faceter's largest regulatory obstacles and what actions have been taken to address them?

The largest obstacles will be to provide assurance that privacy is paramount, and in this regard, we have built the platform to ensure that no personal information can be stored, and nor can a reverse-image search be undertaken. Many regulatory discussions have commenced, and we are dealing with each of the issues as they arise.

Are there GitHub repositories available to view the development of Faceter (not PayCards)? If not, why is this not available?

Not as yet. The code for the platform is still being written, and the funding raised from the ICO will go towards this development.

Exactly in what way has the success of PayCards been used to assist with the development of Faceter? Please explain on a technical level.

During the development of PayCards, the team gained extensive knowledge in deep learning and computer vision technology. Excellent results were achieved in the performance & speed optimization of neural networks in the context of the mobile environment where there is limited CPU/GPU computation power. A neural network training environment was developed that allows neural networking to be trained in a very effective manner. As a result, it was a natural progression to apply this knowledge in aligned industries.

What developments with regards to smart contracts have been made and can this be verified on GitHub?

Some development has been undertaken. We are partnering with Ambisafe to deliver a set of audited smart contracts for Faceter. The first of them will be published soon on our Github channel.

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