In an hour long live stream broadcast on 28th December, Veritaseum founder Reggie Middleton made a unique offer to developing nations for establishing peer-to-peer (P2P) trading platforms with zero outlay.
Veritaseum builds blockchain-based P2P capital markets as software for global markets. Through both centralised and distributed models, it offers a one-on-one asset exchange mechanism.
Costs Borne By Veritaseum, Profits Shared
By making the offer, Veritaseum believes it is paving the way for a shift in fortunes for poorer countries by allowing them to build financial infrastructure from the ground level up.
In doing so, it could provide an advantage over established western economies who appear to be lagging in their ability to integrate blockchain technology into their current systems.
In the offer outlined by Veritaseum’s Reggie Middleton, all initial research and development will be borne by Veritaseum and transaction revenue shared by the country and the company once the platform has gone live.
Well documented discussions have been ongoing for several months between Mr Middleton and the Jamaican Stock Exchange but the new offer is open to all African, Asian, Central and Eastern European developing countries.
The trading platform runs on VERI tokens. Individual token holders can use them to effectuate their own trades or rent the coin to other interested parties and receive a percentage of the transaction fee.
As of writing, there has been no formal acknowledgement of the offer by this is expected to change if the blockchain startup’s conversations with Jamaica prove fruitful.