For us here at Veracity Protocol, 2019 was a great push forward. From diving into the accelerator program at Techstars in NY as one of the top 10 most promising global blockchain startups, being featured at Plug & Play, and collaborating with names like Amazon and Microsoft, we wanted to reflect and appreciate just how far we’ve come with our tech and team while also filling you in on exactly what we have planned for 2020.
Our tech advancements
When it comes to our tech, here are some of our major accomplishments for 2019 in a nutshell:
- Launched a software development kit (SDK) and external API for partners who want to build on our solution
- Successfully launched a solution for our client De Marchi
- Went serverless
- Migrated our AI system to GPU’s (10x more speed)
- Created our One-class Classification (OCC) process to refine our algorithms
- Improved our algorithms to be able to verify and protect more types of materials
- Created a prototype for image recognition and blur detection
In addition to the above, some of our tech advancements deserve more of a spotlight:
Becoming a true Saas Solution
As you may have heard from earlier this year, we’ve become a true SaaS (Software as a Service) solution, which allows any of our clients to use our proprietary algorithm as a standalone solution — the authentication service — without having to use our products or storage space. By successfully moving to a serverless environment, there is now potential to virtually scale without limits.
Protecting items in bulk
With better and stronger algorithms over time, we’ve come out with One-class classification (OCC) — which allows us to train algorithms to detect authentic items without having a fake example. We’ve successfully tested our datasets and are currently working to apply it for a client.
“It was a crazy ride with OCC this year. Part of me is still fascinated by the very fact that our algorithms are able to tell an authentic from a fake. And doing this without the access to fake examples really brought it to a whole new level. But here we stand today!” — Jan Tomešek
Aside from our tech, our team members are the blood that really drives us as a company. Let’s put the focus on what’s happening inside of our team.
A much bigger family
As we began spreading our turf from Czechia to New York, it means that our team also had to grow. Throughout the year, we’ve been bringing in new members into our family.
Last but not least, we’ve found Albert, our designer and communication lead who also serves as our talented meme creator on the side.
All of our members played a role in getting our company to the next level — in terms of tech growth, exposure and all-around exciting opportunities that we had the privilege to take part in.
Below are some of the most memorable events of the year.
Techstars Alchemist Blockchain Accelerator, NY
With all that happened this year, one of the most rewarding experiences was the Techstars accelerator program. We were chosen as one of the top 10 most promising startups in the world — which was extremely humbling but also came with a lot of eye-opening experiences and challenges to really push our company forward.
Some of our team relocated and spent three months in New York learning and building the foundation of our company alongside experts and advisors. Apart from that, we attracted investors and formed friendships for a lifetime.
Plug & Play
On top of Techstars, we were also selected as one of the 20 most prestigious startups to take part in the Plug & Play program, enabling us to form direct partnerships with industry leaders and work with corporate sponsors to take on new opportunities. Being able to participate in these events gave us really valuable external validation about what we’re working towards as a company.
Zooming into business & partnerships
Not only was 2019 the year of publicly introducing ourselves to the world at noteworthy events and programs, but we’ve also managed to finalize a pricing model for our key products, prepare key business alliances and stabilize our development team. We even had the privilege to team up and cooperate with huge names such as Microsoft, Amazon and De Marchi.
Overall, we feel we’ve set ourselves up well to achieve even bigger goals next year.
What we expect for 2020
Complicated tech comes with a lot of responsibility. Although we have working products, we know that our AI algorithms can always be improved to be even more effective and accurate (even more than the current 99.7%). We definitely know we’ll be spending a lot of time improving our solutions, especially our OCC, to have an even bigger competitive advantage.
Our founder, Roman Komarek, shares a few of his visions for the new year:
“Being able to successfully reach our goals this year gave us a great foundation to build on for the future. Next year, we aim to strengthen our business team and our partnerships across industries and to rapidly flip our ambitious projects into business contracts.”
We’re really excited to see what the coming year will bring us. Especially when it comes to growing our family, we’re excited to take on new team members as we are opening new positions next year.
As always, we’ll continue to share our progress with you and look forward to the growth. We’d like to thank all our readers, friends, investors, supporters and partners for sticking with us and following our progress!
Until next time, all of us at Veracity Protocol would like to wish you all a wonderful holiday season and a happy new year!
About Veracity Protocol
Veracity Protocol brings a new security standard to combat counterfeits and fraud by fingerprinting physical objects — bridging the physical and digital world. We use computer vision and machine learning to create an immutable digital fingerprint of any physical object based on its unique material structure.
Anyone can then verify the authenticity in (sub)seconds with a smartphone or regular industrial camera as no proprietary hardware is required.
See our demo video and presentation for more information.