Chinese Universities to Launch DAO

According to the idea of ​​the creators, the project will become the opposite of the American Ivy League and is designed to make education more affordable
29 May 2018   702

A group of leading Chinese universities are planning to create a decentralized autonomous organization (DAO) in order to make educational resources more accessible. This is reported by Coindesk.

The initiative called the Youth Education Chain League (YEC League) will be attended by the Beijing and Zhejiang universities, as well as the Tsinghua University. Educational institutions and research institutes will act as nodes in the DAO.

According to the idea of ​​the creators, the project will become the opposite of the American Ivy League, in which educational resources are for the most part only accessible to the elite.

Ultimately, participants will be able to vote for future developments and applications on the platform, while students will have access to educational resources from different institutions located on the common blockchain.

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   271

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.