Ontology works with CarBlock, enters Automobile Industry

Ontology, a new public multi-chain project, today declared about its partnership with CarBlock, the world’s first blockchain-based transportation solution
12 June 2018   785

The two firms will cooperate in basic technology, adopt their business resources, and partner in community operations. CarBlock will also airdrop tokens to cars and their owners certified by Ontology. Sharing Ontology’s “real economy” strategy, CarBlock will construct a transport data platform built on blockchain and vehicle network intelligent hardware. The platform is to connect Ontology’s chain network model with CarBlock’s intelligent hardware and IoT solutions to successfully and fairly circulate vehicle data within the ecosystem. CarBlock will apply data to tap into the one trillion US dollar automobile market and create a brand new smart transport ecosystem.

We are very pleased to cooperate with CarBlock to connect Ontology’s distributed infrastructure and services to more application scenarios as part of our real economy strategy. Our partnership with CarBlock will ensure effective circulation of transport data, integration of Ontology with the smart transport field, and overall enrichment of the Ontology ecosystem.
Jun Li
Founder, Ontology

CarBlock is the world’s first decentralized automobile industry trading area built on vehicle data. With the help of the blockchain technology, intelligent hardware, and other IoT solutions, ownership of vehicle data is brought back to users. 

We recognize Ontology’s technical accomplishments in public chain development, linking resources of ecosystem application partners, and dedicated support from partnering technical teams. CarBlock is the fastest growing blockchain application in the automobile industry with the most abundant industry resources. We will be using our position to promote the Ontology ecosystem and help Ontology provide more diversified industry solutions.
Jia Li
Founder, CarBlock

Vehicle data can be efficiently circulated in the ecosystem via fair data circulation mechanisms. Data might also be applied to tap into the one trillion US dollar automobile market and construct a brand new smart transport ecosystem.

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   182

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.