The Veritaseum ICO ends in a couple days (Friday) and while slow at first the big investor whales have arrived.
Veritaseum ICO has seen multiple 1000+ ETH investments all the way to 4000 ETH in the last day.
Currently the project has raised about 8.5 million US Dollars which isn’t an insane amount of capital but after Veritaseum is up and running is when the institutional investors are sure to come in.
The picture above are for the smart people who figured out how to initiate the smart contract and get paid automatically.
The screenshot below is for the more mentally challenged folks (like me) who just blindly sent ETH to an address in hopes they would send Veritas back (which they did).
How This Will Disrupt Wall Street?
The assets are contained within the blockchain which means there will be NO credit risk & NO Counterparty risk. Additionally the assets will be managed by an autonomous smart contract. That means fees are almost non-existent compared to Wall Street firms.
Out with the Old
Financial institutions the world over that control transactions are like parasitic leeches whose goal is to suck as much money from their host, the investor (that’s you). 60% of all gross revenue goes to paying employees and keeping their archaic infrastructure alive.
The Debt Markets Are Dieing
Here in 2017 we are a point where massive banks like Deutsche Bank are needing stealth bailouts just to stay afloat. These institutions are on the edge of failure and the only reason they are staying afloat is because of public perception that everything is ok.
The Transition: From Debt Based Markets to Crypto Based Markets
Some call it the collapse but it will really be a transition from old to new. Veritaseum is definitely a contender to replace many of the functions that Wall Street and Banks perform but with out the ridiculous fee’s and corruption.
Veritaseum IPO ends Friday May 26, 2017
/Ethan