APEX Platform Partners with Shanghai Data Exchange

Shanghai Data Exchange will help add value to Chinapex's artificial intelligence capabilities enriching the dataset
01 May 2018   1126

The company behind APEX Network is a Shanghai-based AI and data technology company Chinapex, and APEX is focused on blockchain for next generation of B2C applications. In April 2018 it has emerged that Shanghai Data Exchange entered into a cooperation agreement with AI and Blockchain company Chinapex and its blockchain division APEX Network.

Shanghai Data Exchange is one of the largest big data platforms in China and is backed and approved by Shanghai Municipal People's Government propelling the data-driven capabilities of various core economic sectors. Shanghai Data Exchange has already partnered with such major companies as Alibaba, Huawei, and Deloitte.

Enhancing consumer consent and compliance protocols is one of the core principles we uphold when building APEX Network. We aim to help all of our enterprise users to adopt best practices become GDPR (General Data Protection Regulation) compliant.

Jimmy Hu

CEO, APEX Network and Chinapex

APEX considers an acquisition of new datasets from the Shanghai Data Exchange consortium, but mainly it plans to use the cooperation for data verification only, which is a big use case for APEX blockchain and its future dApps; while Shanghai Data Exchange will help add value to Chinapex's artificial intelligence capabilities enriching the dataset.

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   197

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.