2017 was a stellar year for Bitcoin and cryptocurrencies in general. It is the year when literally the entire world sat up and took notice of Bitcoin and other cryptocurrencies commonly referred to as Alts. The Ethereum blockchain saw tremendous growth with its application of smart contracts and dAPPS. This led to a flood of ICOs, mostly all launched on top of the Ethereum blockchain. Now that we are almost done with 2018, plenty of reports have been published about the extremely high rate of failure within the ICO space. Obviously some were outright scams, some were extremely over ambitious and may be some lacked the technical ability to execute a brilliant idea. However, this is how a new asset class is born, and one can always refer to the tech bubble of the late 90’s and the subsequent crash, while anyone who would have invested in Amazon and Apple, would have gained tremendously once all the dust settled.
Considering the fact that it can get extremely confusing for the average investor to discover the projects with a high potential of success, although there are never any guarantees in life and in investing, we here at CryptoCentral thought we would try and shed some light on some of the hidden gems in the cryptospace. The idea is to simply share information about the projects which are showing potential going forward and also are gaining traction with their product / platform. Hence, this is a first in a series of “Looking for Hidden Gems in the Cryptospace”. I will try and keep it short, as one can always dig deeper to do your own research, for which there is no substitute.
The founder of Veritaseum is Reggie Middleton, an extremely well-known figure in the Financial Markets and is quite famous for making predictions about crash of markets and financial institutions. He famously predicted the fall of housing market of 2007 and Bear Sterns in 2008. He founded Veritaseum in 2014 and launched its ICO on the Ethereum’s ERC-20 token standard in 2017. Veritaseum is a peer to peer capital market platform which enables users to research, buy, redeem and sell financial assets freely without having to depend on third party intermediaries such as banks etc. VeADIR (Veritaseum Autonomous Distributed Interactive Research) is the core of platform and runs on Chrome and Safari browsers.
It is a well-known fact that the major financial institutions that control most global transactions overcompensate for their services which are then paid out to employees. Such expenses are then passed on to the customers availing such financial services. In addition to higher costs, the ecosystem in its current form also suffers from high transaction friction, conflicts of interest, material counterparty and credit risks etc.
Hence, the fundamental idea of the Veritaseum project is to eliminate middlemen such as brokers, financial advisors banks etc from the capital markets space. The users can purchase access to its platform using the utility VERI token. The platform provides various products ranging from financial analytics, research data and asset tokenisation.
Veritaseum is one of the few projects that has already delivered a working platform and the space it is targeting is ripe for disruption. It is also pertinent to mention that there has been a lot of ongoing FUD about this project, which actually shows that the incumbents are quite terrified from what it stands to deliver.
Disclaimer: This is not an investment advice. It is of paramount importance that everyone should do his or her own due diligence before investing in any product, platform, tokens etc. Cryptocentral.io does not endorse any content or product published on this page. Our aim is to simply provide all the readers with the latest information in the field of cryptocurrency / blockchain industry that might be of interest to our readers.