TruStory startup has collected $ 3 million to identify fraudulent ICO prior to launch

TruStory startup has collected $ 3 million to identify fraudulent ICO prior to launch

Investing in initial offers of coins or ICO is a minefield. This is true not only for people who have absolutely no technical education, but for many investors who are well versed in technology but have little understanding in the white paper.

Investing in initial offers of coins or ICO is a minefield. This is true not only for people who have absolutely no technical education, but for many investors who are well versed in technology but have little understanding in the white paper.

TruStory is a platform for users, which explores and confirms (or disproves) the validity of the claims on the Internet, whether in a blog, white paper, web site or social network. The goal of the young company — “return to authenticity in a digital and decentralized world.”

Despite the fact that regulators around the world firmly took up a Scam with cryptocurrency, the number of ICO has risen sharply, as the amounts raised through this mechanism. According to CoinDesk, the ICO has attracted $ 6.3 billion. United States in the first three months of 2018; which is 118 percent more than during the whole of 2017.

Not all of them — blockchain startups that hold ICO. Many companies are trying to use this method of investing in a fraudulent manner.

To separate the wheat from the chaff — a time-consuming task, but investors are willing to bet that TruStory cope with the sorting. The startup just raised $ 3 million in funding under the guidance of True Ventures, with the participation of Pantera Capital, Kindred Ventures, Homebrew, Coinbase Ventures, Ventures, Wonder, Abstract Ventures and former editor of TechCrunch, Alexia Socis through its new Fund Dream Machine.

This round also received checks from many known private investors, including the co-founder of Coinbase Fred Ersama, entrepreneur and investor Scott Belsky and the former head of mergers and acquisitions by Twitter Jessica Verrilli, who recently joined GV as a General partner.

All rely on the founder of the TruStory of pṛthā, Caseready it’s easy to see why, given its track record. After graduating from the University of southern California, where Pritha studied industrial and system engineering, she received the position of a banking analyst at Goldman Sachs. About a year later, Caseready began to try yourself in the role of an engineer, but a cold call from Andreessen Horowitz ultimately led her to the deal, from which she learned about the blockchain:

“I have worked and studied with pioneers of the Internet, such as Marc Andreessen, Ben Horowitz, Chris Dixon and many others. I’ve seen thousands of companies that have passed through their doors — I saw their ideas, their teams, their problems and their strengths. I learned about how to conduct a successful release technology, and on the other hand, learned about the common errors that lead to failure. Most importantly, I met incredible entrepreneurs who inspired me to become like them one day.”

In fact, a few years later, after Andreessen Horowitz wrote the first check to Coinbase, Caseready left the firm to work on digital currency stock exchange, being a self-taught engineer. There, according to her, she has developed and implemented front-end interfaces and the API required for integrating Ethereum on the platform Coinbase.

Then she left again:

“I only learned how to write code that runs on Ethereum. I have contributed in different blockchain projects and just listened, studied and seen.”

Caseready also noticed the growing number of false claims where people were making millions.

As TruStory will effectively test the accuracy of the statements, Caseready not discuss publicly, for fear of plagiarism, which is widely distributed in this area.

She said the platform will use the wisdom of people, including scientists and researchers, who will thus be “to earn tokens, reputation, and influence.”

In the end, says Nasireddin, the platform will be used to check for much more data, not only white papers.

“We begin with the cryptocurrency market and claim that we are creating a network that can help investors and researchers who need the information to make the right decisions.”

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