Google to Develop Own Blockchain Solution

Company insiders say cloud is natural home for the technology; no comments available from th spokesman
22 March 2018   750

Google is developing its own solution based on distributed ledgr technology, which can be used in the company's cloud services and help it stand out against competitors. This is reported by Bloomberg.

Google can use the blockchain to ensure the security of data storage of its customers.

In addition, Google is developing its own distributed registry, which third-party companies will be able to use to send and verify transactions The launch date for blockchain-based products isn't available.

Several people working in the cloud services division of Google have concentrated their efforts on the blockchain protocols in recent months, another source said, asking not to be named, since the company is not yet ready to make an official announcement. The Google spokesman declined to comment on the situation.

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.