Ford plans to improve traffic with their new token system

Ford filed a patent for a new token-based car-to-car communication system to reduce traffic congestio
28 March 2018   606

Traffic congestion is one of the most widespread problems in large cities. And now Ford plans to improve the situation with their new system.

The application to US Patent and Trademark Office was submitted yesterday, March 27, 2018. In this patent application Ford plans to focus on the drivers' attitude towards each other.

“Traffic congestion occurs when one or more lanes of a multilane road are blocked, for example, because of a construction or an accident. The blocked lanes reduce the flow rate of vehicles through the section of the road with the blocked lanes. The reduced flow is compounded due to the psychology of human drivers who focus on their individual travel time preferences.”, is stated in the patent.

Ford plans to utilize a new CMMP token - “Cooperatively Managed Merge and Pass” to make travel faster and easier for everybody with their Cooperative Adaptive Cruise Control system. People who allow other drivers to merge into their lane will be rewarded with the said tokens. Or, for example, one can exchange tokens when “occupying slower lanes of traffic”. And if you're in real hurry or are late for the meeting, you can request other drivers on your way to let you pass for the price paid in CMMP.

So, if you think about other people on the road, you get tokens for it, and then you can exchange them for a faster way to get somewhere when you are in a dire need.

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   392

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.