Veritaseum
Crypto Overview
Project Overview
Veritaseum, launched in 2014 by Reggie Middleton, claims to be a platform that enables peer-to-peer capital markets without intermediaries using smart contracts. The VERI token is intended to serve as a utility token for accessing the platform's services.
Intended Utility Analysis
The project aims to provide software-driven consulting and research services, with the VERI token being required to access these services. However, the actual implementation and adoption of these services remain unclear.
Current Status and Concerns
In 2019, the SEC charged Veritaseum and its founder with conducting a fraudulent ICO that raised approximately $14.8 million. The case resulted in a $9.5 million settlement. The project has shown minimal development activity since then, with very low trading volume and limited ecosystem development.
Token Distribution and Governance
There is limited transparency regarding the current token distribution. The total supply is capped at 100 million VERI tokens, but detailed information about founder holdings and vesting schedules is not readily available.
Technical Development
The project's GitHub repositories show minimal recent activity, and there is little evidence of significant platform development or adoption of the promised peer-to-peer capital market services.
Crypto Impact
To assign a comfort level investing in Veritaseum from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Veritaseum.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
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Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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