- %98 of the tokens are in one wallet retained by founder
- After the ICO, tokens stored poorly, some of them stolen and dumped on a decentralized exchange.
- The project is out almost a year, isn't listed on a big exchange. Most of the volume is on EtherDelta, which could be manipulated due to low fees.
- Content on the website looks like intentionally made complex. Needs a simpler explanation.
- Veritaseum's proprietary software (UltraCoin) was removed due to regulatory concerns.
- Disclaimer on their site stated that this is not a digital currency, financial investment, security or a similar offering.
- Reggie Middleton has been working on cryptocurrency projects since 2014. There have been many promises, still, there aren't any widely used products.
- Veritaseum’s ERC20 smart contract code was written by an outside consultant. A crypto asset company should have blockchain developers,
- Memorandum (Partnership) with the JSE is not legally binding.
- P2p swap in VeADIR platform might encounter regulatory issues from the CFTC like it did before with the previous version.
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Initial Rating: April 23, 2018
Last modified: June 4, 2018