What is Veritaseum (VERI)?
Veritaseum is a fintech software that offers access to the peer-to-peer (P2P) capital market on a global scale. The project leverages a decentralized platform, digital asset research, and overall transfers to achieve its main goal.
The main aim of the project is to solve the problems that are inherent in centralized financial systems, such as lack of transparency, high cost of transactions, and bureaucracy. The developers envisioned a system that supports P2P capital markets without the need for intermediaries or banks. Such a system will ensure that anyone with access to the internet can take part in the capital market. Therefore, the team developed a blockchain-backed software, Veritaseum, that enables the realization of such a vision.
Veritaseum provides the option to tokenize assets such as real estate, metals, or government bonds. Users can also buy and sell digital assets on the blockchain and get exposure to various trading opportunities.
The project is powered by VERI, the network’s native token. VERI is an ERC-20 token, running on the Ethereum blockchain. Therefore, the Veritaseum crypto holders are protected by the security of the Ethereum network. Veritaseum token is available for purchase in some crypto exchange platforms. You can view the live Veritaseum price on the chart above.
Veritaseum provides tools and software necessary to enable participation in peer-to-peer capital markets. The protocol runs on servers that are controlled by the client organization. The services include a digital exchange designed for prime brokerages and exchanges. It also has a smart arbitrage system that provides cross-platform liquidity for digital asset trading. Overall, the platform has seven services including VeAssets, VeADIR, VeRent, VEResearch, VeManagement, VeExposure, and VeTokenization.
Use Cases of VERI Tokens
Veritaseum crypto asset is a multi-utility token. VERB symbolizes the prepaid payments for Veritaseum products and services. One of the main use cases of the Veritaseum coin is to redeem it for advisory services.
Also, VERI token holders can access and utilize Veritaseum financial machines. Financial machines are a collection of chained smart contracts that mimic the tasks of entire industry divisions at near-zero margins. These smart contracts also operate with no balance sheet exposure, counterparty risk, or credit risk.
Moreover, users can Veritize their assets, which means assigning new customized VERI tokens to each asset.
Lastly, holders can also trade VERI tokens on the listed exchanges. However, if you plan to do that, remember that the VERI price could fluctuate, as it is a volatile asset. Thus, you should research the Veritaseum price beforehand to make more informed trading or purchasing decisions.
Who Founded Veritaseum?
Veritaseum was founded by Reggie Middleton. Reggie is an experienced investor with a wealth of knowledge in the capital market. He is a resourceful investment advisor who has worked with many investors, traders, hedge funds, family offices, and global banks. Reggie is also the founder of BoomBustBlog.com, which deals with financial, real estate, stock market trends, and current affairs. Besides, Reggie also created Veritaseum’s UltraCoin, a corporation that uses modern cryptography in the fields of finance, economics, and value transfer transactions.
However, in 2019, Reggie Middleton and two organizations he controlled were charged with fraud by the Securities and Exchange Commission for allegedly participating in a scheme to deceive ICO investors by selling them digital securities and manipulating the market for those securities. In order to protect at least $8 million of the $14.8 million the defendants raised through the sale of digital securities in 2017 and 2018, the court imposed an emergency freeze on August 12, 2019.
Tokenomics of VERI
Veritaseum has a maximum supply of 100,000,000 VERI. Less than 3% of the total tokens are in circulation as of January 2023. Veritaseum uses a fixed token supply model to hedge against inflation. This helps to maintain a healthy VERI price.
