KDDI joined Enterprise Ethereum Alliance

Japanese telecom giant joined the Enterprise Ethereum Alliance
01 October 2017   1628

The Japanese telecom giant KDDI Corporation has joined the Enterprise Ethereum Alliance (EEA). This is reported by CoinDesk.

Occupying the 219 line of Fortune Global 500 rating, KDDI also cooperates with Couger, Trident-Arts and law firm Kentauros Works, testing technology solutions based on smart contracts developed by EEA.

In particular, representatives of KDDI noted that the solutions created on the basis of smart contracts can be effectively used to facilitate payments between companies. In addition to blockchain, the Japanese giant also plans to explore the possibilities of other innovative technologies, including artificial intelligence and the Internet of things that, according to KDDI representatives, can help in the development of "next-generation service platforms".

This proof-of-concept will extend beyond blockchains utilized by existing business and will validate business and technical issues and benefits for Open services built on platforms such as the Ethereum and includes non-financial interactions, and Smart Contracts for coordination with partner company services.

KDDI team

What is Enterprise Ethereum Alliance?

Enterprise Ethereum Alliance is a non-profit holding company, which includes mainly large companies and well-known start-ups. At the moment, the alliance includes more than 150 participants.

EEA aims to use Ethereum technology for corporate needs, focusing on aspects such as security, privacy and scalability.

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   235

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.