News Briefs Archive

New Token-Based Eyecare App Powered By Blockchain & Facial Recognition Technology

July 17, 2019

VisionBanker, a startup that describes itself as aiming to “help improve the vision of global consumers through technology,” announced that it plans to raise $10 million through a token sale.

The pre-sale has already begun, with public sales to be launched in the fourth quarter of 2019.

VisionBanker says it wants to tap the growing eyecare market by using technologies such as blockchain, mobile apps and facial recognition to help global consumers get access to better-fitting eyecare, while incentivizing them through a token system (VBK tokens) to get regular eye-health check-ups.

At the same time, optometric professionals will also be incentivized through tokens to provide answers to questions posed by the app’s users — thus creating a decentralized, distributed and public ledger designed to allow consumers to solve their eyecare needs easily. All this data, with user’s names and identifying information kept private, will be stored on blockchain, and may be used to help governments and organizations with an interest in eye-health research.

Consumers who use VisionBanker will be able to store their eyesight records on the app’s blockchain technology after being checked by an optometrist. This is designed to allow users to easily check their eyesight data in the future if they change optical providers, and also to track their progress over time.

A Virtual Try-On feature will allow users to tap on facial recognition technology to analyze the geometry of their faces and virtually try on different frames to find the best fit. Facial recognition technology services are supported by Microsoft and NEC.

The VisionBanker app is expected to complete its development and be launched in 2020 with an Asian-centric approach, led by countries in Southeast Asia.

Within three years, VisionBanker says it aims to collect $12 million in revenue, growing to $60 million by the fifth year, through a consumer-subscription model priced based on “affordability in each country,” as well as by providing eyecare data to medical, research, optometric and insurance organizations.

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