United Arab Emirates is hosting smart economy conference

Dubai is organizing ArabNet Digital Summit on April 30 - May 1 to discuss the perspectives of smart economy and the future of financial services
13 April 2018   752

ArabNet Digital Summit is coming to Dubai on April 30 - May 1 with the help of NextMoney. The event is organized by ArabNet at Madinat Jumeirah Conference Center. The summit will explore the trends and opportunities in financial technology, banking, and transactional businesses. In addition to that, topics like artificial intelligence, big data, blockchain and the potential they have in the bank and financial services sectors. Among the partners of the forum of money are ConsenSys and Bloomberg Businessweek.

Another forum that will be part of the summit is smart economy forum. It will feature topics like applications of blockchain technology, driving progress through big data, and the evolving role of digital enterprises. A vision of the cities of the future is on the agenda as well. Partners of the forum include Xische&Co and Smart Cities New York.

To see more details you can visit the official website of the event.

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.