Veracity Protocol

Veracity Protocol provides a business-to-business, software-as-a-service (SaaS) platform that functions as an optical standard for identifying and authenticating physical objects. The company was founded in 2018 by Jakub Krcmar and Roman Komarek. Krcmar, the current CEO, has a background in product development and user experience, with a particular interest in blockchain and AI applications. The company operates on a global scale with offices in Prague and New York.

The core of Veracity Protocol's offering is its advanced Vision AI technology. This system uses computer vision and machine learning to capture the unique microscopic structure of any physical item using a standard smartphone or industrial camera. This process creates a tamper-proof digital 'fingerprint' or Non-invasive Microstructure Number (NMN) for the object, which is then stored for future verification. This method avoids the need for embedded hardware like chips, tags, or markers, offering a non-invasive and secure alternative to QR codes or NFC chips, which can be duplicated or cloned.

The platform is designed to be camera-agnostic and easily integrated into existing systems via an SDK and API, allowing clients to build custom solutions. The business model centers on providing this infrastructure as a service, enabling clients to develop a range of applications, including anti-counterfeiting, quality assurance, and secure traceability. Revenue is generated through strategies such as licensing the unique fingerprints, which allows clients to monetize their own intelligent solutions. The company serves various industries, with notable applications in pharmaceuticals for verifying pills and packaging, and in the luxury goods and fashion sector to combat counterfeits. Veracity Protocol has collaborated with partners like Microsoft, Intel, and The Ordre Group. The company has received funding through multiple rounds, including participation from investors like Techstars and a Series A round from The ORDRE Group in October 2022.

Keywords: Vision AI, product authentication, anti-counterfeiting, digital fingerprinting, microstructure verification, supply chain security, brand protection, SaaS, computer vision, machine learning, non-invasive serialization, physical asset verification, object identification, tamper-proof, digital product passport, pharmaceutical authentication, luxury goods protection, asset tracking, quality control, deep-tech