Dnata and IBM created new scheme of transportation

The new proposition for cargo service delivery will use blockchain technology
24 November 2017   959

This solution has added improve visibility and transparency for all stakeholders and eliminating redundant data. The processes can be more streamlined and simplified. As a result, this decision will increase the efficiency of transportation and save money for the company's customers.

For example, traditional cargo transportation requires a lot of paper documents and participation in the process of several inspectors who will monitor it, sign documents, etc. Moreover, these documents must be signed by several parties. Even the electronic system of cargo transportation requires a long administrative process. But blockchain technology can simplify this process by digitizing the supply chain. At the same time, neither party can change, edit or delete any of the blocks without the consent of other users.

This technology is a very secure way to share information between parties. It creates a permanent, digital public transactions ledger which can be shared with a computers distributed network. The sharing possibilities of this technology create a lot of opportunities for logistics. For example better tracking of orders, reducing errors, improvement of transparency and better fraud detection.

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.