According to the project’s website, “At its simplest, Veritaseum is the gateway to peer-to-peer capital markets,”
It is a platform that enables investor access to financial machines and smart contracts to help them manage their transfer values as well as investments with fellow Veritaseum users.
The main objective of the platform is to remove the financial advisors, brokers, banks, and other middlemen out of the capital markets ecosystem equation. Further, its team will eliminate labels that claim that Veritaseum handles these roles. They believe that Veritaseum is just a vendor of services or software without a server which has been distributed among the customers. The main principle of Veritaseum is to let users play the role of the consumer as well as the middleman that the application replaces.
How Does Veritaseum Work?
On the basic level, Veritaseum provides its users with software and tools to indulge in a peer-to-peer capital market. Users can use VERI, the utility token of the platform and purchase access rights to smart contracts which control the services of the platform.
Some of these products involve self-custody escrow services for research data or financial analytics. It also includes asset tokenization. These are some of the main features that can be accessed using the platform independently.
Veritaseum’s website says,
“VeExposure is the realization of man (VeResearch) and machine (VeADIR) working in concert to drop expenses and increase performance while allowing users to maintain custody, ownership, and control of their assets (private keys).”
This serves as the application that empowers users to have exposure to the VeADIR offers. Users can send VERI to any exposed research within the platform.
Veritaseum (Veri) About Their Rapid Expansion In Africa
The Veritaseum platform allows people to create smart contracts without the aid of banks or brokers and hence its popularity is on the rise. The company expanded into Uganda and Nigeria in October, and the move is already showing positive signs for the company.
CEO Reggie Middleton explained that the company would welcome the unbanked clients and utilize VeGold of the company as a standard of value. He said, “We are already looking for undervalued Ugandan businesses to Veritize.”
He also commented on the possible Nigerian connection,
“You guys will have your socks blown off when you hear what we’re doing and who we are doing it within Nigeria. Africa will clock faster economic growth than any continent on the planet, and countries like Nigeria (if they follow our lead and execute properly) will exhibit growth that will make China look like a snail’s pace in comparison.”
Stringent rules in the United States led the company to establish a base in Bermuda. They also have bases in Kampala, New York, and Lagos.