New BaaS platform to be launched by Huawei

Huawei company is to set their own BaaS platform named Blockchain Service [BCS] and has emitted their blockchain white paper on their official website
19 April 2018   811

Huawei’s main object is piloting blockchain in different spheres: supply chain, finance, IoT based logistics, connected cars, carriers cloud network synergy and government data storage. The white paper refers about the important need of advanced safety while constructing blockchain and claims that the blockchain service will be making use of three layers i.e, cloud, pipe and devices and a combination of software and hardware protection in order to provide a highly trustworthy and secure system.

Huawei will be offering one-stop blockchain platform services to all its developers and enterprises which links planning, purchase, configuration, development, product launch and O&M. The platform gives a perspective to high performance, security, and reliability to all the users.

It’s good to see all the top companies around the globe embracing blockchain technology. They know what the real deal is and are stepping forward to shape a better future. Blockchain will definitely pave path  to an easier and secure future.
Lenny Jacob, blockchain and cryptocurrency enthusiast

The blockchain applies consensus algorithm, shared ledger, P2P network, smart contract engine, persistent storage and blockchain security and privacy (SM2, SM3 & SM4). The base characteristics of the product are flexibility, on-demand charging and visualized data management and thereby increases the usability and decrease the on-going and initial usage costs.

China is cool with blockchain but banned Bitcoin. If only someone could make China release the potential of cryptocurrency. 
Ben Larson, cryptocurrency investor, trader

Huawei will also be emerging as the Vice President of the Trusted Blockchain Alliance, a co-operation platform for the government, universities, industry and research sectors in order to support China’s top-level blockchain design and help build a win-win and harmonious industry environment. Huawei will be collaborating with 150 companies which include JD Finance, China Mobile, China Telecom, Tencent, and Chainnova.

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   304

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.