Published on Feb 21, 2020
Veritaseum is a highly disruptive revolution in finance, investment and value. It uses blockchain technology, smart contracts and distributed computing to aid industries and entities suffering from high economic rents, undue friction and gross inefficiencies. Describing Veritaseum is actually very simple, but that description is often frustrated by:
Lingering concepts of the legacy institutional business models that Veritaseum seeks to disintermediate
Ingrained prejudices towards leaps in technological ca
pabilities, particularly in the first industry that we're moving to disrupt - finance.
At it's simplest, Veritaseum is the gateway to peer-to-peer capital markets. It allows any two or more individuals to deal directly with each other in transactions of value without reliance on centralized or authoritative third parties. They can do this without concern for credit or counter-party risk. Phenomenal, right? Of course, this begs the question... How is this done? Let's start with how it's not done. Veritaseum is not a broker, a fund, a bank or an exchange. It is distributed, serverless software! To explain what we are, let's take a quick history lesson.
In 1887, twenty-two-year-old Julius Blumberg opened a small two room store at 115 Division Street in New York City’s Lower East Side. This was the birth of Blumberg forms over 125 years ago. Blumberg was the pre-eminent publisher of legal forms, enabling the quick templating and execution of agreements (think power of attorney, leasehold, money purchase agreements, etc.) between two or more parties. Julius determined that legal transactions could be greatly simplified through the use of a form on which common “boilerplate” elements were already printed, consequently the Blumberg Law Form was born. The cutting edge technology of the era, the typewriter, allowed a massive savings in time through efficiency.
Veritaseum products are the 21st century incarnation of the Blumberg form. Instead of the typewriter being the enabling technology to bring templated agreements to the masses, we now have smart contracts, blockchain technology and distributed escrowing of self-custodied capital ushering in new capabilities to the forefront.
By thinking of Veritaseum as a vendor of new age (smart) contracts that enable the conditional transfer of value, you can fully grasp both the simplicity and the creatively destructive disintermediation that is Veritaseum. Access to our smart contracts are gained through the purchase of Veritas (VERI), the software token that represents prepaid fees for Veritaseum products and services. Through the possession of VERI, one can access and use our financial machines. Financial machines are multiple, chain-linked smart contracts designed to replicate the functions of entire business divisions of industry, but at near zero margin and without balance sheet exposure, credit risk or counter-party risk.
The VeADIR is our first financial machine, and although currently in beta, it is fully functional from a technical perspective right now.
Our distributed solutions utilize a very unique approach that is research and analysis-based. We use financial forensics, fundamental and macro analysis and consulting to design various Veritas sub-tokens that may serve very specific purposes.
The Veritas sub-token creation process consists of the following:
Goals are communicated to the Veritaseum team by the Veritaseum client/customer.
Veritaseum financial analysts, macro strategists and financial engineers create a financial product and analytical framework that supports the product.
The financial product is passed to our software developers/engineers to create Veritas sub-tokens (software licenses) that unlock custom smart contracts. These contracts support the business processes and logic of the newly created product.
The software token is issued directly to the Veritaseum customer for direct P2P transfer or to hold - and/or through the appropriate financial machine, i.e. the VeADIR.
