Cryptocurrency can be integrated into Facebook

Mark Zuckerberg studies the positive and negative aspects of cryptocurrencies and how best to use them in Facebook
05 January 2018   1120

Facebook CEO Mark Zuckerberg is interested in studying cryptocurrency and encryption technologies with the aim of their possible integration into the world's largest social network.

According to him, one of the most interesting issues in the technology world is the rivalry of centralization and decentralization, and many are beginning to engage in new technology, because they believe that they can be that decentralizing will give more power to ordinary people.

However, today, says Mark Zuckerberg, many have lost faith in this promise. With the emergence of a small number of large technology companies and the increasingly frequent use of technology to monitor citizens by the state, people are convinced that technology is more likely to increase centralization.

There are important counter-trends to this --like encryption and cryptocurrency -- that take power from centralized systems and put it back into people's hands. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.
 

Mark Zuckerberg

CEO, Facebook

Last year, experts on security and technology from Facebook and Google announced their intention to defend the "digital democracy" of the United States with the help of blockchain technology.

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   213

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.