TITANIUM BLOCKCHAIN: WHY IT FAILED
On May 22, 2018, the U.S. Securities and Exchange Commission (SEC) filed a complaint against Titanium Blockchain, an Israeli start up in the middle of its ICO at the time. According to the SEC, the firm had violated the commission’s registration and anti-fraud regulations in the process of raising funding from investors. Charged with securities fraud, company founder, Michael Stollaire stands accused of falsifying information. Allegedly, the company was caught claiming false ties to large firms like Boeing, Disney, and PayPal.
WHAT IS TITANIUM BLOCKCHAIN?According to their official website, Titanium Blockchain is a research, development and consulting company that offers full-scale blockchain development services to enterprises in several industries. They are focused on exposing corporations to the applications of blockchain technology for benefits such as increased efficiency and speed. The firm claims that it delivers deep insights to its clients, based on a wealth of experience within the field. They follow a comprehensive roadmap which encompasses every stage of operation, from elaborate planning and product architecture to selecting the best technical solutions, product definition, outlining R&D processes and final execution. Their main services include consulting, private and public blockchain development as well as ICO services. The Tel Aviv-based firm makes use of several existing blockchain applications including Hyperledger, NEO, Ripple, Waves, Cardano, Quorum, AION, Wanchain, Blockchain as a Service (BaaS), and Ethereum-based decentralized applications among others. In September 2018, Titanium blockchain announced that it officially became a technology partner of WLTH, a health blockchain platform which rewards users for achieving health goals. Some other significant partnerships include:
- Gaby, a community management tool
- Millentrix, a cryptocurrency management service
- Verv, a smart home energy assistance that provides information on electricity usage
- Bidipass, an ID verification solution
- The ICO platform