Line Messager to Develop Dapps on Own Blockchain

Japanese messaging giant shows serious interest in distributed ledger tehnology
23 April 2018   531

Messaging app giant from Japan Line plans to create custom blockchain, designed for dapps development on its platform. This is reported by Coindesk.

Euivin Park, Line's chief technology officer, talking at developer event, said she aims to take Line's existing blockchain efforts a big step forward by launching a blockchain mainnet.

As reported, the platform, as envisioned by Park, would be built outside Line's existing products and utilize the token economy to incentivize and accelerate the development of decentralized applications, either by third parties or the firm's own developers.

To that effort, she said the company is going to recruit more blockchain developers.

Few days ago the company launched a South Korea-based blockchain subsidiary, called Unblock, based in South Korea. Focusing on blockchain-related R&D initiatives, the new subsidiary was set up to integrate decentralized applications to Line's messaging platform in a bid to add more features for users.

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.