Oracle to Release Blockchain Products Line

Software Development President Thomas Kurian announced that a platform-as-a-service product will be introduced this month
08 May 2018   947

One of the largest software providers Oracle in the next 2 months will launch line of blockchain products, according to Bloomberg.

Software Development President Thomas Kurian announced that a platform-as-a-service product will be introduced this month, and applications based on the distributed ledger are as follows.

The California company is working with Banco de Chile on recording the protocol of interbank transactions using Hyperledger technology. Oracle is cooperating with the government of Nigeria, which wants to use the blockchain for the conduct of customs documentation.

Oracle will also provide access to its products to pharmaceutical companies that can use them to track supply chains.

According to Kurian, Oracle's blockchain solutions will be compatible with other platforms.

Oracle joined Hyperledger's consortium in August last year, and in October, it announced that it will use distributed ledger technology to manage supply channels.

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.