It's a rare time when we hear about a company doing a public offering of product and presenting itself as an entity without competitors. Monopolist? Liar? Not at all. Here we expose a story about probably the first ICO in the history of cryptocurrencies with no competitors. And it is – paradoxically – a state of the art digital wallet - Veritaseum.
Veritaseum‘s main mission is popularization of the superior exchange and financial services they provide on the platform at zero cost for the ultimate customer. ICO tokens, Veritas, are available on sale until the 26th of May, so the statement is real.
Imagine the world where everyone is honest and always does what they say. Imagine a business whose main purpose is to serve people and produce the best goods and services. Imagine the human mentality free from hunger for money... Slap! And now we are back to reality. What is real now is Veritaseum going ICO, and everyone has a chance to actually take part in recreating the world described all above. A product that serves people’s needs without making them penniless, is what offered at stake.
Zero margin for excellent performance
The story of Veritaseum dates back to the year 2013 when the prototype of the value trading platform was created and tested as operational. By the end of the year, the platform was already working on Blockchain technology and implementing small contracts between users.
Nowadays Veritaseum is a wallet interface facilitating smart contracts between users in a peer-to-peer manner. Whether you want to exchange currencies or make transactions, the process on Veritaseum is transparent and secured by the Bitcoin (and very soon, the Ethereum) Blockchain technology.
There is no commercial agent in your way, no broker, no bank, which will ask for gatekeeper fees. The block goes directly from one individual to another, safe and sound, and let the customers enjoy the unburdened services.
Two of the crucial advantages of Veritaseum – adapted Blockchain and close to zero margin – makes its product special and outstanding from what is offered right now on the market.
No competitors and not yet – copycats
From the first glance, the business model opted by Veritaseum differs from what we had before. While using Veritaseum wallet customers do not pay extremely high transaction commission, they would probably need to pay fees for a traditional exchange service. We are so used to paying a certain percent from the transaction sum, that it sounds unbelievable. However, it is true while using Veritaseum.
Moreover, their customers are offered access to assets and value trading without counterparty risks, credit risks and balance sheet exposure. Veritaseum is the machine that works as an autonomous investment bank, free from human factor risks.
Reggie Middleton, the Veritaseum CEO, says:
“We are the closest thing to an entity that offers full-service investment bank offerings without being an investment bank. We do this by leveraging the power of the blockchain and smart contracts, along with a truly ‘start from scratch’ mentality when it comes to designing business models. Instead of trying to bring old school, extant business models into the Blockchain age, we create brand new business models designed specifically to leverage the abilities of the bleeding age tech. In doing so, we take industry verticals such as asset management, brokerage, merchant banking, etc. and create machines that replicate the services traditionally offered, with improvements in speed, transparency and safety… at zero practical margin.Yes, we give away the crown jewels for free, or close to free. We offer our competitor’s service way below their cost and charge for ancillary services that consumers need to use the free service.”
The cost shifting business model they implement in Veritaseum leaves all competitors way behind and makes them withdraw. Having concentrated on best service provision and not profit, together with the ongoing ICO, Veritaseum is aiming to proselyte a great share of customers into fee-free and risk-free value exchange.
The founders strongly believe Veritaseum’s P2P autonomous platform to be the defacto standard of global capital markets in twenty years. This doesn’t mean the extinction of intermediaries, but it does mean the great decrease if the intermediary doesn’t add value. The days of getting paid just for being in between two others are soon over. So let us start and enjoy the services of the future with Veritaseum.
Veritas is the key
When the package is ready and wrapped up beautifully, nothing left but to put it on sale. Veritaseum has made a come a long way to facilitate the platform with additional financial research and advisory covering ICOs, tokens, companies and macro, delivered nearly weekly.
At the moment the company has several global patents pending application in the field of peer-to-peer value exchange technology and value trading, so the process is ongoing.
Veritaseum has a decent amount of sweet bonuses going into the ICO - several patents pending, an existing and functional codebase that ran and worked in the real world with real people, management with a track record of doing things and making things happen – everything to make the ICO promise and dream real.
For many startups, an ICO is the way to collect funds to finalize the development of the product or service. In the case of Veritaseum, it is different. The main goal of ICO is to popularize the business model they adapted and get more recognition. It will help to lure more customers to employ the platform.
Starting from April and until May 26th Veritaseum goes ICO by selling Veritas tokens. Veritas is, on the one hand, a token, which has a certain value. In Veritaseum they expect the value of Veritas to grow in time with more and more customers connected to the platform. From the other hand, it is the key to the financial research system and advisory services. Veritaseum has created and given the owners a way to enjoy the benefits of both revolutionary software and have a solid investment of a new kind.
While the target market for Veritaseum is “everyone” using capital, the ICO audience is seen as those who share the philosophy of value-added products and services.
Reggie Middleton explains:
“Veritas is not an investment - at least in the financial sense, as in buying a security. Veritas are tokenized knowledge - our knowledge - that serves double time as the keys to unlock the future of finance… P2P capital markets. This can easily be seen as an investment in the future soon to come, but materially differs from an investment in a security, stock or bond.”
Aimed for usual customers, Veritas are still not protected from speculation, especially in the long run perspective. It will continue to be a tradeable token. Nevertheless, buying Veritas tokens now during the ICO could be a great investment “in the future” while enjoying the services they provide. In any case, it is a win-win deal.
Difference makes it special
Thinking ICO, many think the risk is involved. Investors first believed in the potential of a startup and then waited for the business to blossom. The big difference is when you purchase Veritas token, you become a user.
“Veritaseum tokens have utility value, and they have that value right now! We want you to use our tokens because we feel they are valuable, and once that value is recognized by the greater population, that value (due to the network effect, supply and demand) will simply grow - at least if things go our way,” Reggie concludes.