LIFEwallet and LIFEcards About to Be Released

LIFEwallet and the first LIFEcards should be released to the public in April 2018
28 March 2018   1754

LIFE is digital cash,  which functions as a reward system for large businesses, charities, communities and innovation projects. It can be bought, sold and traded like shares or can be used to purchase items from a growing number of retailers.

According to the roadmap of LIFE, LIFEwallet and the first LIFEcards should be released to the public in April 2018. The users will be able to utilize LIFEwallet online portal or mobile application to convert their preferred cryptocurrency to an equivalent prepaid balance on the LIFEcard in seconds. LIFEcard is a prepaid card, and while there are strict identity verification checks, there will be no credit checks or credit limits.

Life cards samples cryptoLIFE cards samples

According to the website of LIFE, LIFEwallet is being developed alongside LIFEcard as an integrated companion application, and a crytocurrency wallet in its own right, but the further details will be announced separately.

As for the future plans of LIFE, May 2018 will be marked by first LIFE conference in London, and Cryptosaurus will adopt LIFE as a payment method, and the Stage 2 of LIFE adopters will be announced in June, 2018.

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   197

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.