WWF to track quality of products using blockchain

World Wildlife Fund partnered with ConsenSys, TraSeable, Sea Quest Fiji and Viant to track quality of fish using blockchain, and prevent illegal fishing that can deplete the tuna population
09 January 2018   985

The World Widelife Fund for Nature, an international non-governmental organization, working in the field of the wilderness preservation, and the reduction of human impact on the environment, has announced its partnership with ConsenSys, communications technology partner TraSeable, tuna fishing and processing company Sea Quest Fiji, and blockchain company Viant.

The partnership was made in order to prevent the illegal fishing that can reduce the tuna population. SeaQuest Fiji will launch a verification system based on blockchain, which will record the "voyage of tuna from seafaring vessel to grocer, beginning with tagging the catch with radio-frequency identification e-tags".

From the moment the fish comes aboard the vessel the blockchain technology captures their journey in a digital manner and allows every person through the supply chain to see the story of that fish.

Brett Haywood

Chief executive officer, Sea Quest

The certification system, provided by blockchain-based platform for modeling business processes Viant aims to provide a detailed way to verify a fish’s journey from the ocean to the market.

We see blockchain technology as being able to step up the transparency in the supply chain, which previously was difficult or quite expensive to do.

Dermot O'Gorman

Chief executive officer, WWF Australia

It is reported that WWF is currently exploring the idea of blockchain technology and may apply it in other sectors of industry and fundraising initiatives, eventually aiming to use it more widely.

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   166

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.