What Makes Veracity Protocol the Best Authenticity Solution for Physical Assets on the Blockchain?

Whether you’re an experienced startup investor or someone deciding how to start, at the end of the day — you need to ask yourself and answer the same questions.

Let’s say you’re already convinced about a project. It has strong and achievable ideas with an experienced team to make it work — quite simply, everything looks great. You’re ready to invest, but then wait, you’re stooped to find that there are 15 other projects working towards the same goal.

Well, what then?

Veracity Protocol faced the same question.

For the past 3 years, we’ve been building a solution to finally secure items to the blockchain with A.I., as well with developing an authenticity protocol and infrastructure for businesses with physical assets.

But then we found out that we’re not alone.

Normally this phrase brings comfort, but this time we wanted to know who we’re competing with.

What are these other projects and how far do they go to push the same mission?

So of course we dove deep and researched these other initiatives to see how they address the huge gaps in the market — regarding the authenticity of physical items on the blockchain.

The truth is, no current project was able to provide a secure solution and address the critical problems.

When it comes to evaluating projects, there are three points to consider –

1. The business (strategy, team, experience);
2. The architecture and the technology itself;
3. The solid core of the business and the value they can really bring.

We’re aware that the available info out there can be misleading, as we can only draw careful conclusions. But in some projects, we noticed potentially significant problems with the team and targeting. And it seems that most of the strengths came down to marketing — which unfortunately plays a huge role with ICOs.

To our surprise, some projects that already finished their ICO turned out having no real solution — and were STILL able to raise $13M.

Others were stronger and weaker at different points, but only about half of the main issues were addressed.

Unless other projects make a big leap to address all the critical issues, sooner or later they will hit a wall.

Right now, the problem is it’s way too easy to replace items with a fake.

We can’t deny that developing systems for securely linking items to the blockchain is a pretty hot topic. But after doing our research, we’re confident in our solution.

Veracity Protocol’s design is bulletproof and more complete than any current and existing project on the market.

Without a secure way to link the physical item to its blockchain entry during each step, it leaves room for fraud and can be replaced at any time.

Veracity protocol uses computer vision and machine learning to fingerprint any physical item’s unique surface structure and hash it to the blockchain –– a tamper-proof solution to finally eliminate space for counterfeits and fraud at any stage.

Got some questions? Talk to us at team@veracityprotocol.org.