Mexican Government to Test Blockchain in Public Contracts

According n ational digital strategy coordinator blockchain technology would eliminate the "easily corruptible" human element 
05 April 2018   615

Mexican authorities had been working on the bids tracking project for public contracts with blockchain. This is reported by Coindesk.

Speaking at a tech conference in Jalisco, Mexico's national digital strategy coordinator Yolanda Martinez detailed Blockchain HACKMX, a project she said has been in production since last September. The system was initially developed by a team of university graduates whose design won a contest calling for blockchain solutions that can help improve public services.

Yolanda Martinez, Mexico's national digital strategy coordinator told at a tech conference in Jalisco about Blockchain HACKMX. According to her, project is in the production from Septmber 2017. Initially, the system was developed by a team of university graduates whose design won a contest.

With blockchain applied to public contracts we'll be able to know whether a company that provides services to the government is trustworthy.
 

Yolanda Martinez

National digital strategy coordinator, Mexico

Martinez told attendees that the technology would eliminate the "easily corruptible" human element and introduce transparency to the public tender process. Records of the bidding process will be stored in blockchain with ability to be checked after the fact.

At the momeent, there's no tech info about the project, but Debate's report suggests the project will eventually be rolled out to the public, with the government eyeing it as a solution for state and local governments in particular.

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   174

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.