Baidu Launches Blockchain-as-a-Service Platform

Chinese search giant is going to provide  provide the most "user-friendly" blockchain service
12 January 2018   743

The Chinese search giant Baidu has launched its own blockchain-as-a-service (BaaS) platform. This is reported by CoinDesk.

The open platform "Baidu Trust" is developed on the basis of Baidu's own technology. According to the company, it is designed to provide users with the most "easy to learn and use" blockchain-service.

According to a report on the Baidu website, the platform allows you to conduct and track transactions; it can be used to perform a wide variety of tasks, including the issuance of digital accounts, the management of bank loans, insurance management, financial audit, etc.

According to Baidu, this technology has already been used for securitization and asset exchange, including "first asset-backed securities exchange products using blockchain technology in China."

Note that Baidu - not the first Chinese company, acting with such an initiative. In April 2017, the Chinese Internet conglomerate Tencent released its own set of blockchain services. TrustSQL offers its users such services as digital asset management, authentication and shared economics.

Although the search engine Baidu a bit late with its own BaaS-platform, once he was one of the first companies to start working with bitcoin. So, in October 2013 payments in this crypto currency began to take his service Jiasule, engaged in improving the productivity, speed and security of websites.

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   182

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.