Blockchain adopted in Austin  to support the Homeless

A new blockchain platform is being launched in Austin in order to resolve identity problems relatively to its homeless people
17 April 2018   618

Austin was chosen alongside with the other 35 cities as a participant of the Mayor’s Challenge Program, sponsored by Bloomberg Philanthropies. The top one from the rest 35 will win $5 million.

Identification is one of the main difficulties that obstacle the homeless to get housing, potential employment, and medical care and the other important services. Austin believes that blockchain may help in solving these challenges. Blockchain technology can found unique online identifiers for homeless people. It let them to reestablish their historical records and assist them overcome poverty.

At a high level, the pilot is trying to figure out how to solve one of the challenges we have in our community related to the homeless population, which is how to keep all the information of that individual with that individual. 
Steve Adler, the Mayor, Austin

The blockchain project`s aim is to reinforce previous identity records and identify each homeless individual safely and confidently when letting seamless pass to data by a service worker. “There are all kinds of confidentiality issues that arise when you try to do that, so the thought was that blockchain would allow us to bridge that need,” claimed Adler.

So, inconvenient paper records can be replaced with digital electronic encrypted information which will be more distinct and secure. The blockchain-based platform could also help service providers authenticate a homeless person’s identity without going through existing paper records or  bringing someone back to the office for processing.

Records on the blockchain, unlike the paper ones, can be shared betwixt various  providers easily, especially new records that need to be added over time. Having a historical record of a personality is very important, especially in healthcare where any new or updated information can be critical for people.

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   174

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.