Happy Monday all!
It’s the afternoon and time for whiskey.
Whiskey means shitcoin reviews (yes, we are nerds).
This one will be VERI quick and to the point.
Today’s review is Veritaseum.
Let’s dig in…
Veritaseum (ticker: VERI)
Wtf is this shit?
At its core, Veritaseum is a distributed system that offers different applications for traders and investors to manage their portfolio. Many banks profit as middlemen for giving research, reports, trade recommendations, and all things portfolio management related, outside of literal exchange trading.
Veritaseum is based on Ethereum and VERI tokens comply with the ERC-20 standard. They use oracles to crunch data, build reports, and recommend what they consider to be ideal portfolios in the current market.
One interesting product is VeManagement, which recommends ideal portfolios based on their VeReserach product, which is a data aggregation tool from HUMAN recommendations in the software. Depending on the portfolio that VeManagmeent recommends, users can accept or decline the advised changes to their personal portfolio. Said more simply, “the admin UI loads the proposed model from the spreadsheet and presents a changeset to be reviewed and accepted by the portfolio admin by signing it with their private keys.”
VeADIR is one of the more popular aspects of their product suite. It stands for Veritaseum Autonomous Distributed Interactive Research. Unlike VeResrach, which gets data primarily from users, this is automated. This is where we can get into an example of how VERI is actually used. VeADIR pulls data on many different companies whether they be ICOs or publicly traded securities. A user can request data from VeADIR on a pay-per-request basis - and if a particular organization’s information is requested, it is them that is paid in VERI.
Now...we want to go drink whiskey, and we think you get the point. The other products are VeRent (for renting facilities), VeExposure (showing your risk exposure in the market), and VeTokenizations (make more shit-tokens). Feel free to read more about them, but you now should get the goal of Veriaseum. Basically a portfolio management suite. Honestly, it seems very meh, and we are unsure how reliable their data is. Sometimes there is merit to a human touch, especially when it comes to trading advisement.
Who tf is behind this shit?
Reggie Middleton is their CEO (he also has a Wikipedia page, so you can find him). He started in the insurance sector, then went to the financial securities and risk management sectors. In 2007, he founded Boom Bust Blog which was a financial advisory blog with over 3,000 subscribers. He does not seem to have a tech background...but, the financial application makes sense.
All in all mid-tier shitcoin, probably should be low-tier, seems pretty average to us...but we wish them luck.
Hope you learned some shit and be sure to follow us on Twitter!
- Mike and Aaron