Advanced Project

Blockchain-based cross-border payment and remittance service for the unbanked by Advanced Project, has been attracting attention as an innovative financial service by introducing simple payment with facial recognition AI technology.Africa once struggled with access and innovation in financial services, but in recent years, with the rapid development of financial technology and services, a growing number of fintech companies have begun to emerge to drive this change.The Advanced Project is revolutionizing the traditional financial system by introducing blockchain technology. Known for its decentralization and security-enhancing features, blockchain technology ensures transparency and reliability of financial transactions, providing trust to users.The Advanced Project has also recently focused on AI technology and plans to apply a facial recognition AI payment system to the TIER app, a cross-border payment and remittance service, to identify customers’ financial patterns and preferences to provide more efficient and convenient services.The facial recognition payment method applied to TIER enables simple and secure payments at no or low cost regardless of device.It also enables hands-free payments without the need for smartphones, credit cards, or cash, providing a simple payment experience for users and reduced labor and operating costs for merchants.It is also characterized by enhanced security by applying ‘TIER Liveness’ technology, which ensures that facial recognition is executed only for ‘living objects’ (faces), so that if someone tries to make a facial recognition payment with a photo (image), the payment will not be made.When using this facial recognition payment, AUC tokens, the utility token of the Advanced Project ecosystem, are paid as a reward, and an AR-style game element is applied to find a store that accepts facial recognition payments using GPS to encourage users to actively participate, and not just as a payment method.TIER’s facial recognition AI payment system will be launched in Q4 2023 and commercialized in Q2 2024.This Advanced Project’s AI facial recognition payment method has been recognized for its technology and will be part of the Dubai AI &amp; Web3 Campus in Dubai’s DIFC Innovation Hub in the second half of 2023.The Advanced Project, starting with fintech solutions, aims to apply an AI-based facial recognition payment system developed independently across Africa and Southeast Asia.New technological innovations are expected to lay the foundation for providing users with a comfortable and secure financial services environment.Source: https://mybroadband.co.za/news/industrynews/504696-advanced-project-announces-upgrade-to-tier-service-with-facial-recognition-ai-technology.html

Advanced Project announces upgrade to TIER service with facial recognition AI technology

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