Intel teams up with Tencent on Internet of Things

Intel collaborates with Tencent in order to work on Internet of Things blockchain solution
15 September 2017   2585

Tencent, the Chinese media and technology company, has unveiled its partership with Intel at the 2017 World Internet of Things Exposition in Wuxi, China. Thus, ae reported by cointelegraph.com, the two companies signed a letter of intent for a partnership centered on blockchain technology.

According to the report, the project will focus on developing applications for the Tencent User Security Infrastructure (TUSI) Internet of Things (IoT) laboratory.

Intel is committed to providing privacy protection, security and scalable technology, and by working with Tencent on Blockchain technology, the prospects will be exciting.
 

Rick Echevarria
Intel’s Software and Services Group vice president 

As the letter of intent details, Tencent will utilize cloud-based blockchain technology through the support of Intel. However, it’s unclear whether the project will use the Coco Framework, which is a joint project of Intel and Microsoft, or an iteration of Hyperledger, which is Linux’s open-sourced platform for blockchain projects.

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   233

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.