Two years back on May 22, a complaint was filed against Titanium blockchain by the U.S. Securities and Exchange Commission on the charges of violating the registration and regulations of anti-fraud of commission during fundraising from the investors. Michael Stollaire, the company founder of the blockchain don’t accept these charges levied on him and called this information a fake. Titanium, a startup from Israel was held for claiming false ties Disney, PayPal, Boing. Let us have a Titanium blockchain review, starting from its introduction.
Know About Titanium Blockchain
If you don’t have much idea about Titanium blockchain, then let me introduce you to it. Titanium is a consulting company of research and development providing services of full-scale blockchain development to enterprises of various industries. The main objective of this blockchain company is giving exposure to blockchain technology applications to the corporations for availing benefits in speed and efficiency. Based on experience wealth in the field, Titanium Blockchain firm states thorough insights to its clients. It adheres to a strategic plan implementing all operational steps beginning from detailed planning and product formation to choosing the better tech results, product info, tracing R&D processes to implementation at the final stage.
The main services of Titanium blockchain comprise ICO services and the development of private and public blockchain. Also, it finds the better utilization of various blockchain applications that are currently present like Ethereum-based decentralized apps, Quorum, Hyperledger, BaaS (Blockchain as a Service), Ripple, Wanchain, Waves, NEO, Cardano, AION, and others. An official announcement was being made by Titanium blockchain in September 2018 stating of becoming an official tech partner of WLTH. This health blockchain platform rewards for health goal achievement by the users. Besides WLTH, Titanium blockchain claims to have partnered with a smart home energy assistance, Verv. The information regarding the usage of electricity is provided by it. The next partner is known to be a crypto management service, called Millentrix. Others include Bidipass (an ID verification solution), Gaby, and the ICO platform.
After gathering knowledge of Titanium blockchain, now let me tell you about its infrastructure scam. According to the statement of SEC Enforcement Division’s Cyber Unit head, Robert Cohen, investors were cheated on fake claims of business products by a social media-based ICO. Robert also adds on the statement of filing the number of cases that included this fake ICO scam. Investors were advised to be careful about such investments.
Complaint By SEC
Coming on to a complaint filed by SEC, it accused Titanium blockchain of dodging valid information that provided registration and exemption. The name of Two companies was also mentioned in the complaint. These companies were Systems Management Inc. and EHI Internetwork. They were linked to Stollaire, the founder of this blockchain firm. Concerning to previous complaint, an emergency asset freeze which was applied to the Titanium blockchain that showed raising of $21 million was obtained by regulatory officials.
What To Learn From Titanium Scam
Now, regulators have come up with new initiatives making cryptocurrency regulations stricter. This will certainly bring down the fraud cases like the Titanium blockchain scam. The latter fraudulent scam has made one thing very clear, which is the lesson for firms as well as investors who either become prey to it or continue to such fraud. Another lesson which we get from the Titanium blockchain scam is that ICO issuers must concentrate on the actual representations of their business model, commitments, and functioning in the whitepapers, or any document that can be termed as marketing tools. It is also applicable in terms of utilization of social media because there are many who on different platforms can be the future investors in the coming years.
Investors must also take a lesson from the scam of Titanium blockchain. Whenever they head to purchase tokens from an issuer, they must carefully do a thorough checking of background information, members, past performance of such companies.
So this is all about the Titanium blockchain and the scam associated with it. It has been noticed that If users will become insecure while investing in blockchain projects seeing the example of the Titanium scam, then it will be very difficult in the forward movement of the ecosystem. Companies like Titanium blockchain shaping itself of the building of the blockchain industry, have accidentally led to its downside. It can prove highly rewarding investing in blockchain, but due to fake parties, it can give you adverse results. It is a wake-up call for investors and issuers. Follow the Cryptoknowmics website to discover more interesting topics like how to trade on Bitfinex, etc.