Hervé Falciani, a whistleblower behind the biggest banking leak in history, is set to launch a traceable cryptocurrency, Reuters reports. Falciani hopes that his project will be more enticing to regulators who are shooed away by rampant crime in the crypto sector.
Falciani’s next crusade
Falciani, after making waves around the globe with his ‘Swiss Leaks’ that exposed wealthy tax evaders, has embarked on his mission of an anti-fraud activist. While remaining one of the most wanted individuals in the banking industry, he is now making a foray into cryptocurrencies by rolling out Tabu, an entirely traceable token.
The ‘ethical’ Tabu token will subsequently help prevent tax dodging, money laundering, and other types of criminal activities. This will be achieved with the help of a certificate that will ensure its ‘clean record.’ He’s ready to offer investors 5 mln Tabu tokens, currently awaiting approval from the Spanish regulators. The total value of these tokens sits at $2.3 mln.
A new Blockchain initiative
As it turned out, Falciani is a big believer in Blockchain technology, which is capable of bringing more transparency to the table. Apart from Tabu, he is also on the cusp of launching a Blockchain-powered system Aletheia (‘disclosure’ in Greek) that will provide E-procurement solutions for public sector organizations. The technology will help tackle fake invoices that are plaguing this industry.