frequently asked questions

What is Veredictum.io?

Veredictum.io is developing a smart ownership & distribution platform to protect film and video producers from piracy and theft.  We are also creating a new distribution model never before seen. We are leveraging a combination of blockchain, smart contracts and other really cool technologies (including our proprietary technology) to achieve our ambitious target of reducing film piracy and theft by 80%.

We are focused on developing a suite of tools specifically designed for the film and video industry that enable:

-    the protection of existing revenues by pro-actively protecting copyrights
-    increased revenues through new & improved distribution models
-    the creation of new revenue streams not previously possible
-    reduced costs through a new suite of increased productivity tools specifically designed for video producers

Who is building the Veredictum platform?

Veredictum plans to build the platform at the direction of Samuel Brooks.  He is the smart guy that wrote the whitepaper.  He has a team of other really smart developers working with him that we need to pay which is why we need to raise some money.  If only developers worked for free…

Will the Veredictum platform or software be released under open source software license?

Yes and no; it’s complicated (you should read the whitepaper).  The total Veredictum solution will be comprised of multiple parts.  Some of those parts will be kept internal to the company as trade secret while other parts will be available as open source.  We will also be using some open source technology ourselves that is still in development, and we will be contributing to these efforts (really, read the whitepaper).

What are Ventana tokens?

Ventana tokens are ERC-20 compatible tokens distributed on the Ethereum blockchain via a smart contract.
Ventana tokens are an intrinsic part of the Veredictum anti-piracy and distribution platform. They form the incentivisation structure necessary to economically motivate our distributed video search network.
While the emotive component to creative professionals of reducing piracy is strong, the economic incentive provides them with a simple way to be rewarded for contributed computing power. Cryptocurrencies are also great for transferring small values if only a small amount of computing power is contributed.

Can Ventana tokens be used outside the Veredictum platform on another system?

At this time, the Ventana token is not used by any other system.  While it is not specifically designed to be used on other platforms, we also don’t have any control over this.

We do expect it to be traded on popular exchanges as this will facilitate the liquidity that the Veredictum system will require.

What does Ventana mean?

Ventana is Spanish for “Window”.  We chose it because broken windows indicate a problem neighbourhood.  The film and video industry has a problem with piracy, and we represent that with our broken windows theme.  Ventana are new windows that fix and replace the broken ones that have come before.

How does the Ventana token sale work?

At the most basic level, the Ventana token sale is controlled by a smart contract running on the Ethereum platform.  If you send ETH to the smart contract address you will receive Ventana (VNT) back.  Just don’t send anything besides ETH to the smart contract address.  REALLY, DON’T!

What about Bitcoin?

Ethereum smart contracts do not accept Bitcoin (BTC) so don’t send BTC to the smart contract address.  REALLY, DON’T!  You will lose your BTC and not receive any VNT.  That is why anyone that wants to purchase VNT using BTC needs to either convert the BTC to ETH and then send the ETH to the smart contract address or contact us and we will handle the purchase manually.


KYC / AML – What’s with the TLAs?

KYC stands for Know Your Customer
AML stands for Anti-Money Laundering

Because the possibility exists that one could use Ventana to launder money we have implemented a process to help guard against that use.  After all, we are working to remove pirates; we can’t very well have criminals using the system!

This is a standard process that is used globally when purchases are made in excess of a set value.  We have roughly set that at $10,000 USD but because the value of ETH and BTC fluctuate we cannot easily peg the criteria at exactly $10,000 USD.  

We will be picking a set value of ETH prior to the deployment of the smart contract.  That amount will then be programmed into the contract and any transactions over that limit will need to have been precleared by our team. The exchange rate of USD to ETH will be published on our website for convenience.


What about all the hacking of ICOs lately?  Is my money safe?

We absolutely understand your concerns around any Token Sale website being hacked and the displayed smart contract address being changed. In order to provide some comfort, whilst we can never 100% guarantee nothing adverse will happen, we take ongoing information security advice from our advisors in order to mitigate the risk of these kinds of occurrences. Naturally, it would be imprudent of us to detail the specific measures we have taken; however, we feel a single point of control for such information allows us to reduce the attack surface. For example, if we say we’re also going to post the address on our Twitter account, this gives someone the opportunity to impersonate a member of our staff on Twitter and post an incorrect address.

By signalling up-front that we ONLY post the address on our Veredictum website, then we only have one point of control and one point of monitoring. In the event that someone has penetrated our system and changed the address, this will allow us to respond as swiftly as possible. We will also be physically monitoring the address as displayed on the site on a daily and hourly basis.

Our suggestion is to triple-check the correctness of the address; never blindly send funds to an address without checking it thrice. You can also check the address in etherscan.io for correctness of the deployed code, however this is a little more technical.

If in doubt, check our Slack, Telegram, Twitter for any communication from us, or reach out to one (or two) of us directly for comfort. We will always direct you to the website (after having checked it). Remember, we’re moving toward the internet of new possibilities with this technology; we’re all pioneers.

Why can’t U.S. or Singapore citizens or residents purchase Ventana tokens?

It was decided that U.S. and Singapore citizens and residents should be excluded from purchasing Ventana tokens during the sale because the security regulatory agencies had not provided guidance about the process.  There are also challenges associated with differing regulations in the many states of the United States of America. Veredictum does not believe that the sale of Ventana tokens or the Ventana tokens themselves are securities or similar financial instruments. Ventana tokens are not designed for investment or speculative purposes and should not be considered as a type of investment. Nevertheless, U.S. and Singapore citizens and residents should not purchase or attempt to purchase Ventana tokens.

UPDATE: Those U.S. and Singapore citizens and residents that are interested in taking an active role in the Veredictum platform are excepted from the above based on new guidance provided to us.  In other words, if you are planning to use the Veredictum platform as a participant in some way, such as using our watermarking process or participating in the distributed computing process, then you are now able to join the token sale.  We require that you still identify yourself to us because we will need to add you to a cleared list.

How can I participate in the Ventana token sale?

To participate in the Ventana token sale, you will need an Ethereum ERC-20 compatible wallet or an application where you and only you hold the private keys. Private keys are required to interact with smart contract functions, like transferring cryptographic tokens. Do not send ether (ETH) directly from cryptocurrency exchanges, only an ETH compatible wallet.
Also, do not send Bitcoin (BTC) to the smart contract.  Ethereum smart contracts do not accept BTC and any BTC sent to an Ethereum smart contract will be lost forever.  Since the smart contract will not execute then no VNT will be allocated.

I have contributed to the Ventana token sale. When do I receive Ventana tokens?

Ventana token transactions are visible right away on the ledger for purchases made directly to the smart contract address with ETH.  Purchases using bitcoin are delayed only by the fact that it is a more manual process.  Ventana are not available for trading until the end of the Token Sale which will occur either on 11 September 2017 or when we raise the maximum.  
WHY? Because if we don’t meet the minimum raise we have to give all that crypto back.

Was there a Ventana token pre-sale or ways to obtain VNT tokens prior to the commencement of the VNT token sale?
No, there was not a pre-sale.  There was an Expression of Interest form that allowed us to communicate more directly with interested parties.

Was there a Ventana token pre-sale or ways to obtain VNT tokens prior to the commencement of the VNT token sale?
No, there was not a pre-sale.  There was an Expression of Interest form that allowed us to communicate more directly with interested parties though.

Have a question? Email us!