Veritaseum is the company associated with VERI or Veritas, the crypto token that’s fast gaining popularity among those interested in cryptocurrency. It was launched in April 2017 through the ICO route. Veritas has been designed for the P2P capital markets and is powered by blockchain technology. It operates on the popular blockchain Ethereum as an ERC-20 token.
Veritaseum is a concept that can be used to veratize any asset such as property. In other words, the property can be represented using the crypto token digitally with attributes that are completely programmable. The asset can then be traded and exchanged. It must be noted that a number of applications that the crypto token has been designed to take care of is still in the stage of development. They will be released in the near future. That’s why the trading value of VERI is mere speculation as of date.
Veritaseum is created as software which is blockchain-based and on a global scale. Assets and exposures of various types are placed on the blockchain as software that can easily connect to parties without any external interest or intervention. Access to these capital markets can be achieved by anyone with access to the internet.
The Veritaseum software has two key components; centralized and distributed. The former is designed to serve institutions that cannot participate in distributed capital markets fully. The Centralized system is powered by servers and remains under the control of the client. Distributed solutions makes use of a specialized approach based on extensive research and analysis.
Sub tokens are created to serve different applications. The process of creating these sub tokens involves communicating goals to the Veritaseum team where the financial experts and engineers create and prepare a construct and analytical framework that can support the specific goal. The financial construct is then handed over to the software team of Veritaseum for making of the software token and smart contracts for supporting business processes. The token is given to the customer for direct transfer.
Veritaseum Joint Venture Digital Asset Exchange will become a reality shortly and will be proof that the concept can achieve its goals. The Peer to Peer OTC trading involving direct value will happen somewhere at the end of the year 2018.
The objective is to make the platform 100 per cent autonomous. However, the company must develop the AI technology for handling requests for assets to be veratized.
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