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Home Coin Guide What Is Veritaseum?  Introduction to VERI Token


What Is Veritaseum?  Introduction to VERI Token


What Is Veritaseum?

Veritaseum is a distributed, peer-to-peer market for exchanging cryptocurrencies and other assets without middlemen like brokers and banks. It’s also a suite of dApps on the Ethereum blockchain, leveraging smart contracts to participate in P2P capital markets through data analytics. Veritas (VERI) is the native ERC-20 cryptocurrency token used to pay for tokenized transactions on the Veritaseum platform.

Investing in any market has its risks, and cryptocurrency especially attracted a lot of fast-talking businesses introducing new, complicated investment options for the unwitting. Veritaseum founder Reggie Middleton is certainly a shrewd financial entrepreneur, but the project has some critics doubting its validity.

Many see decentralized exchanges as the future of cryptocurrency, but running analytics on top defeats the purpose of the anonymity P2P users cherish. Middleton knows Wall Street, and he put together a solid business and technical team. The project’s website lacks a whitepaper or roadmap, though.

SIMETRI Research

The Veritaseum ICO was hacked in 2017 for approximately $8.4 million worth of VERI, which was exchanged for Ether and cashed out. The incident left a sour taste in the mouths of early investors, who threw up immediate red flags against the project. Some analysts doubt the details of the hack, believing it to be staged to draw publicity to the ICO.

Can this blockchain boy band make billionaires out of anyone other than themselves, or is this a hasty get-rich-quick scheme?

Let’s add an ‘r’ to Veritaseum, drink some veritaserum (the Harry Potter truth serum whose misspelled Google searches likely inspired the project’s name), and start spilling the beans about VERI, the cryptocurrency token that fuels Veritaseum transactions.

VERI Cryptocurrency Summary

The total supply is 100,000,000 VERI, meaning only two percent of the total supply was released to the public. The company holds the remaining 98 percent of the Veritas supply.

The peak price of VERI so far was $474.09 on January 10, 2018. It doesn’t appear to be mineable, and the company provides no information as to how consumers can obtain VERI without purchasing on an exchange.

The Veritaseum ICO occurred from April 25 through May 26, 2017, at which point 2,000,000 was sold, raising $6,480,882 worth of ETH.

It is unclear what the company’s plans are with the remaining 98,000,000 VERI.

Approximately $1.8M worth of VERI is traded on a daily basis at the time of writing. Cryptocurrency exchanges that support Veritaseum trading including Mercatox, Fatbtc,ForkDelta (formerly EtherDelta), and HitBTC.

Because it’s an ERC-20 token, VERI can be stored on any ERC20-compatible cryptocurrency wallet, including the Ledger Nano S and MyEtherWallet.

Veritaseum Chart

How the Veritaseum Platform Works

At its foundation, Veritaseum is a smart-contract network similar to Ethereum (which it’s built on, so that makes sense). However, the project isn’t just an open-ended platform – it’s a full dApp suite of powerful financial market tools, all of which are either in development or beta as of this writing.

So far, the Veritaseum platform includes:

VeADIR – Veritaseum Autonomous Distributed Interactive Research (VeADIR) is an investment database has all the information an accredited investor would want about a particular investment vehicle. In exchange for VERI, users can access this trove of research to include full company management and financial information, market research, valuation analysis, and more. If you like what you see, you can execute a buy/sell order through VaRent.

VeRent – The Veritaseum Rental Facility is a platform to facilitate peer-to-peer, OTC trades. Think of it as Craiglist or eBay for cryptocurrencies. The team is very clear that they’re not running an actual cryptocurrency exchange, but the distinction is not a clear one. 

VeResearch – The Veritaseum Research platform promises powerful custom analytics and reports to really dig into company analysis. The basic information provided by VeRent is a great start, but these advanced reports are created by, as the Veritaseum team puts it, “the same team that predicted the fall of Bear Stearns, Lehman Brothers, Countrywide, Washington Mutual, General Growth Properties and the European sovereign debt crisis.”

VeExposure – Veritaseum Exposure is modestly introduced as “the realization of man (VeResearch) and machine (VeADIR) working in concert to drop expenses and increase performance.” The platform claims to let users purchase “well-researched” tokens with ETH and VERI without a counterparty,  exposes users to the risk without actually holding the commodity. This is an advanced stock market investment strategy that seems to be grossly misunderstood by the crypto media so far.

VeManagement – Economic modeling is often performed by data scientists working at accredited VC firms before taking on an investment. Veritaseum Management lets users upload, share, and review performance models for different assets before choosing to invest.

VeTokenization – Veritaseum Tokenization helps create and track tokens. Using spreadsheets and a graphical UI, tokenized assets can be created out of anything from cryptocurrencies to mortgages, rental agreements, loan contracts, insurance, and more.

These advanced tools are the type used by a stereotypical day trader. For investment firms, VCs, and others who eat off Wall Street’s plate, Veritaseum could seem like a godsend. Everyone else might question the focus on one of the more demonized sectors of the financial sector.


Reggie Middleton and his Veritaseum team are Wall Street wizards offering a blockchain platform to day traders and other investment professionals. They created a powerful suite of tools to serve their niche. Veritaseum’s success hinges on these key factors.

  • Using Veritaseum’s Ethereum-based blockchain, users can access deep analytics and research on assets before investing. Blindly investing without this information is how people lose money.
  • VERI is the native ERC-20 cryptocurrency token of the Veritaseum platform. It’s used to pay for financial information and transactions on the blockchain.
  • Only two percent of the total VERI supply has been released into the public market so far with no public information on the rest. This is the largest margin in the cryptocurrency market.

The lack of public information made available on this project lead many analysts to doubt its market viability. Veritaseum may well make some people rich, but it’s unclear if anyone but Middleton and his core team are going to sustain this wealth.


Authors at Crypto Briefing are invested in cryptocurrencies. The author of this post may be invested in digital assets mentioned here.

Brian Penny
Brian Pennyhttp://thoughtforyourpenny.com/
Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower and freelance writer. In addition to Crypto Briefing, you can find his work focusing on financial regulations on Fast Company, Forbes, Huffington Post, and his blog, Thought for Your Penny.


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