Reveel is a revolutionary company that wants to make a difference in the way that consumers spend their money, whether they are going shopping at the store or they control their vehicle. They have decided to use a decentralized form of AI technology and image recognition, adapting it to the blockchain to change the world.
Ultimately, they want to use AI technology as a way to recognize a variety of images, whether it is for people, places, objects, and more. The startup wants to change the way consumers shop, “Reveel”-ing the information that could help them make a better and more educated decision as they spend their money.
The Reveel Platform connects an interactive ecosystem with visual media, giving an opportunity for consumers to learn about brands while the brands can see statistics on their views. One of the first clients to join Reveel’s efforts is the Oklahoma Hall of Fame, connecting 250 portraits with background information that attendees can view, learning more about local legends through bios and other media.
As innovative as this feature is in that application, the creators of the platform say the biggest benefits are for users with an active lifestyle. Whether the user sees an advertisement or a tv show, the shopper can access all of the information necessary to purchase those products and services. Travel and lifestyle magazine publishers already are accessing this technology. With the right progress, Reveel could soon be a necessary part of shopping experiences, going to the airport, or even receiving mail.
Retail and e-commerce stand to be worth $164 billion in their industry with just the use of blockchain technology alone in the next 12 years, which is 10 times the amount in 2017. CEO Jim Schreitmueller said,
“Right now, we’re focused on the media landscape because we believe that we can leverage the billions of mobile devices people carry with them everywhere to drive brand interaction, but what’s even more exciting is where we’re taking our platform next on the blockchain. We’ll be allowing brands to reward consumers for interacting with their media and applying AI to perform image recognition for images other than two-dimensional ad media. We’re calling it “The Google Lens for Everything” because providing the ability to recognize everything that can be seen to obtain information and insight opens up an unlimited potential for personal and business use from helping guide your autonomous vehicle, to analyzing anomalies in CAT scans and defects in manufactured products.”
There are some companies working to create their own projects around AI technology, but the establishment and research alone would require many experts to work on these image recognition models. The computing power alone is enough to overwhelm a company, unless it has the expansive resources that players like Amazon, Google, and Facebook have.
However, by exposing the AI technology that Reveel has, they could transform their platform into a global log of all the possible images that AI could match, establishing a social consensus model. This model is the key to moving forward with Reveel’s efforts.
There are two main groups of participants that the Reveel Platform – media owners who offer images, and individuals who tag the media with information about it. The platform is the first dApp schedule for launch on the Reveel Network, allowing participants to support the image recognition needs of multiple industries. As consumers participate, they will be awarded RVL tokens from the brands that they scan products from.
These coins can then be applied towards discounts for purchases, though it seems that the RVL coins will be the primary incentive for Node operators to engage. All of these coins will be mined with a modified version of the proof-of-work protocol, where they will be responsible for training the AI image recognition model, rather than solving puzzles.
Media can be uploaded via mobile device with the Reveel.it webs app, the Reveel-it native iOS app, and through the Android version of the app. Though it has not been launched, the company is working on a video plugin for streaming audiences that would show the same content, but while actively scanning media.