Telegram Passport to be the First Service for TON

Telegram Passport is a storage for users' personal data
10 May 2018   1622

Messenger Telegram created the first service for the TON (Telegram Open Network) - storage platform for personal data storage called Telegram Passport. Customers will be able to upload documents, passport data and details in order to pay with the cryptocurrency. This is reported by Russian media resource Vedomosti.

According to the publication, transactions on the platform will not be anonymous.

The documents will be protected by two-factor authentication and encrypted, including for Telegram, however the client will be able to open the partner services to access the documents so that they verify the reliability of the data, the source reported.

In Telegram Passport it is possible to place a passport, foreign passport, driver's license, utility bills, bank accounts and a photo. However, the list of mandatory data is still unknown.

Thus, TON will become an ecosystem within which it will be possible to pay for goods and services using the Gram cryptocurrency.

According to the source, to protect against prohibitions of regulators and banks, Telegram will refuse anonymity in favor of partnership with large services, in particular, with the Qiwi payment system.

It is expected that Telegram Passport can start operate by the beginning of the summer.

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   346

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.