Making a new thread as its less bulky and taking all the points in response to my previous message:
I agree the crypto markets are generally under attack and that the global markets are about to get difficult and may get worse.
I guess i can break it down to 3 topics:
1) "SEC could cut veri's plans down at the knees". This is why I said it would have been better to have worked in conjunction with legal much sooner than the February review which seems to have put a spanner in the works. What concerns me is O'Leary is bringing an asset based coin to the market in the shape of a tokenised hotel, I quote him "With a smart contract approved by the SEC" and it will be announced sometime in the next couple of weeks. If O'Leary has managed to bring a SEC compliant asset to the blockchain, why hasn't Reggie when this has been his goal since inception? The VeADIR etc exists but the deployment of assets in it in USA is not compliant. It would be great to know why he isn't ahead of O'Leary or shortly behind him. He's nowhere near, he has moved attention outside of the USA. Its a change in stated goals - which seem to be attainable by others. The token holders really are owed a more in depth analysis about this.
Bare in mind in this is the second version of the platform, Ultra Coin based on BTC was first and then a rewrite came after, (I quote Reggie from the comments in this article
https://steemit.com/money/@financialcritic/analysis-of-the-veritaseum-scam), "CFTC changed their regulatory stance on bitcoin which affected our client, so we pulled it to rewrite it, and we gave a detailed reason why and how". If this is the case and we're on version two of the platform, why isn't it compliant with regs second time round?
2) "Shift from MOUs to realisations", agreed, we need contracts. Another quote from Reggie 9 months ago in the article referenced above, "Veritaseum singed an MOU to enter into a joint venture and revenue sharing for what will be the best capitalized digital asset exchange in the world, slated to go live in September. This was introduced, with blessings to the Jamaican Central bank the Financial Services Authority (regulator). I even posted pictures of the meetings... We're in negotiations to do the same with one of the top ten global exchanges.... Later this week, I will likely announce a HNW deal with a medical practice that demonstrates utility."
There were 3 promises 9 months ago of JSE, a top 10 global exchange, HNW deal with medical practice. None of these have come to pass. As a token holder I would appreciate more information on why as blind faith is wearing thin. What are the closure and delivery issues?
3) In the referenced article Reggie also talks about existing clients on his old platform, I infer but happy to be corrected that this would likely have been in a closed, non public environment. One of the largest concerns I have if there is no public product and focus is on future sales to license further closed environments. For existing token holders our priority is seeing a live platform for general use otherwise we cannot use our tokens. It would be good to hear a statement from him on this.
The only reason for writing here is to express concern about the platform not being accepted in his home market but someone else seems to have indicated he's achieved a compliant tokenisation of an asset for sale in that local market. We've had talk of many MOUs that haven't closed but no real understanding as to why, sure deals take time but for some reason they are not closing and we are not being given information as to why. Has the focus shifted to licensing software and research in closed environments versus open ones that we token holders can take part in? The fact remains we have tokens we cannot use and will not be able to use until some of the regulatory compliance issues or product deficiencies or contracts get closed' we have no visibility of which or the plan to get us to the point of using tokens. Maybe this is less of a message for people but perhaps something for Reggie to tackle in his AMAs?
On a side note about communication, it would be really great to get frequent updates with regularity or committed time slots. We've had a few promises of AMAs that didn't happen which again doesn't instil confidence, its also not respectful of people's time and hard earned money invested in this project.