In this interview, we talk to Marv Shamma (https://www.linkedin.com/in/marvanshamma/), Founding Partner of Veracity Protocol (https://www.veracityprotocol.org/), which combines AI and blockchain to spot fakes and track original items. They are working on an app to spot fake items and claim a 100% accuracy in spotting counterfeit money (of Czech Crown (czk)) with their app.
Veracity Protocol was one of the contesters of the Blockchain Startup Summit pitch competition, which took at Frankfurt School of Management and Finance.
Male Voice: Welcome too STARTUPRAD.IO your podcast and YouTube blog covering the German startup summit. With news, interviews and live events.
Joe: Hello, and welcome everybody. This is Joe from STARTUPRAD.IO your startup podcast and YouTube blog from Germany in English. I am here at the Frankfurt School at the Blockchain startup summit and right now, I do have another startup here. I do have Marv with me from Veracity Protocol, Welcome.
Marv: Hello, hi
Joe: We already fixed, you are from Brock very lovely city. What took you here to Frankfurt?
Marv: Basically, this competition. At some point, my colleagues told me to come here or in other words, we made it to the finals so someone has to go there. I said okay let us make it.
Joe: I already can imagine the faces in the start-up office; oh, we made it in finals. Who goes there? You no you.
Marv: Something like that.
Joe: Okay I see.
Marv: Yeah, exactly. I am very glad, I love the event, and I am happy to be here. Very interesting people, faces, projects, and building networks. This is something that we all in the start-ups community like.
Joe: Very important totally and your start up Veracity Protocol. What does it do?
Marv: Okay it is an infrastructure. Decentralized infrastructure on the Blockchain that is built to monitor the life cycle of physical assets things, anything.
Joe: Meaning for example we just talked with Evan Edwards about tracking of big building machines so you can use them, you can repair them but at one point in time they will deteriorate beyond repair and they are gone, and you track this.
Marv: Yeah, I will give you an example. My background comes from AI. I study AI, I have been in the field for a couple of years, and we started three years ago. A different company a different start-up that is a technology to prove the authenticity of a physical item.
Marv: An example can be
Joe: Mona painting
Marv: Yeah, exactly a painting. What we would have done is that we have a smartphone application. Use your phone to take a picture of that painting and the app will tell you whether this is okay or not okay, in terms of original or fake.
Joe: Good app
Marv: So it is good and then we started to explore different sectors, business verticals. We started in art we went to security papers to luxury goods and so on. After a couple of years, we realize that Blockchain is a good thing. We need it for data integrity and not only that. That is why we have been working on AI and Blockchain. For the last one year, I would say.
Joe: And how did you get to a point where you got your idea?
Marv: That is a good question. I would say we started when we started working on the AI solution that was brief from the art market. Saying hey, AI guys are you able to solve this problem for us? Therefore, we solved that problem and now with the time being we got more questions from different business sectors and that is where all those briefs and challenges came from, that is why we are doing it.
Joe: Okay, I love to work with examples because Blockchain is so abstract. What can you do with the Voracity Protocol, would it be an application everybody can imagine?
Marv: I got that. I have mentioned that VeracityProtocol is a Blockchain based infrastructure for monitoring the lifecycle of things. By that, I mean imagine an artwork. You start with a white canvas as an artist. What we do is that we monitor that artwork from the beginning of its life cycle from the raw material all the way down to the final customer or buyer of that artwork. We use machine learning and computer vision to capture all these phases to make sure that this item has not been changed, faked or swapped to something different. That is why we say that Voracity Protocol is an infrastructure for the life cycle of Things.
Joe: I see, and talking about famous artworks or more expensive photographs and by real photograph artists. How high is your chance to spot a good fake?
Marv: Very high. We did testing two weeks ago with the National Bank in the Czech Republic. Where we proved that we are able to spot fakes in in banknotes with the accuracy of 100% I would say its bulletproof. I just wanted to say that we are not just an art. Art was just the beginning we are now way deep in security papers and luxury goods, and Pharma. For example, we are building a project in Asia to make sure that medical drugs are
Joe: Not faked
Marv: Exactly and people are not harmed from faked stuff.
Joe: I see. You have to authenticate artwork. You help to spot fake drugs in Asia that sounds like a good thing to do for just one for just one Start-up Company. What are you looking for here in this event today?
Marv: Networking with other start-ups with some investors. As a start-up, we always raise some money; always need some cash to make sure that we keep the talent. You have the right people on board; you motivate them not only with money the of course but also with everything you are doing, shares and so on. Each event for us is a good opportunity to talk about what we are doing and to spread the word.
Joe: And everybody who would be interested to learn more go down here in the show notes because there would be a link of your LinkedIn profile.
Joe: As well as a link to your website.
Marv: Of course.
Joe: Everybody can learn more there.
Marv: Thank you very much, thanks a lot.
Joe: Thank you completely, my pleasure.
Marv: Thank you, the pleasure is all mine.
Male Voice: That is all folks. Find more news, streams, events, and interviews at www.startuprad.io remember sharing is caring.