Civic and Loyakk to Manage Identity Verification

Loyakk announced a partnership with Civic aiming to bring secure identity services to the blockchain-enabled platform for decentralized business networks
15 February 2018   3487

Civic has a mission to provide every person on Earth with a digital identity that they can use to interact privately and securely with the world. Civic's visionary blockchain identity-verification technology allows consumers to authorize the use of their identities in real time.

On February 13, Loyakk, blockchain-powered enterprise relationship management platform, announced a partnership with Civic aiming to bring trusted and secure identity services to the blockchain-enabled platform for decentralized business networks.

Loyakk has a mission to transform how businesses create and deliver value in the new decentralized economy with their globally distributed network of partners, channels, distributors and vendors. 

Every business on the Vega platform can empower its own ecosystem of entities that it transacts with Civic's Secure Identity Service offering is highly synergistic with Loyakk's blockchain-enabled platform and will be instrumental in providing trusted identity verification and identity theft protection, which are key requirements for our customers.
 

Salim Ali 
CEO, Loyakk

Vinny Lingham, the Chief Executive Officer of Civic stated that secure identity verification is a crucial feature for decentralized business networks such as the one enabled by Loyakk's Vega Platform. Both companies are aiming to provide identity-verification-related services.

At the moment of press, these are main market parameters of Civic:

Average price: $0,456371
Market cap: $156 398 326
24h volume: $5 406 170

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Centra Tech Inc. Co-Founder accused With Fraud by SEC

The US Securities and Exchange Commission (SEC) has charged Centra Tech Inc. co-founder, Raymond Trapani with ICO fraud  
25 April 2018   77

The charge came as the result of the SEC’s investigations into Centra’s controversial $32 million USD initial coin offering (ICO). Mr. Trapani is the third and final Centra co-founder to be accused for taking part in the ICO.

Raymond Trapani, a co-founder of Centra Tech Inc., has been charged by the SEC for his participation in “a fraudulent scheme connected with Centra’s 2017 ICO.” In 2017 Centra made headlines after enlisting celebrity approval from Floyd Mayweather and DJ Khaled. Two other firm`s co-founders, Sohrab “Sam” Sharma and Robert Farkas, were charged by officials earlier this month for their engagement  in the distribution of “CTR Tokens” to investors.

A changed variant of the SEC’s complaint demands that Trapani was the “mastermind of Centra’s fraudulent ICO,” with an SEC press release alleging that “Centra [was] marketed with claims about nonexistent business relationships with major credit card companies, fictional executive bios, and misrepresentations about the viability of the company’s core financial services products.” The SEC accuses Mr. Trapani and Mr. Sharma of “manipulat[ing] trading in the CTR Tokens to generate interest in the company and prop up the price of the tokens.”

We allege that the Centra co-founders went to great lengths to create the false impression that they had developed a viable, cutting-edge technology. 
Robert Cohen, Chief, SEC Enforcement Division’s Cyber Unit

 

The SEC has disclosed a text mail sent to Mr. Farkas and Mr. Trapani from Mr Sharma in what Mr. Sharma said to his colleagues “[w]e gotta get that s[***] removed everywhere and blame freelancers lol.” Mr. Trapani also demanded that Mr. Sharma “cook [him] up” a fraudulent document whilst the company was seeking to get CTR tokens listed on exchanges under misleading pretexts. Mr. Sharma replied to the request with “Don’t text me that s[***] lol. Delete.”

At the same time, the U.S. Attorney’s Office for the Southern District of New York has also looked for criminal accusations against Trapani. The SEC has revealed that text messages  jointly used between Centra’s co-founders discovered the scam purposes of the defendants.