It added that the token’s ticker and technical details will be revealed at a later date. Source: EOS NetworkVaulta will also inherit EOS Network’s underlying infrastructure, including integration with the Bitcoin digital banking solution, exSat, which complements Vaulta’s BankingOS system, offering a suite of financial services through partnerships with Ceffu, Spirit Blockchain and Blockchain Insurance Inc. EOS Network’s rebranding to Vaulta marks a significant course correction for the blockchain, which launched to great fanfare in June 2018 off the back of a year-long and largest-ever $4.1 billion ICO run by the company behind the network, Block.one.
The EOS Network, a blockchain that launched in 2018 amid the initial coin offering boom, has rebranded to Vaulta and will pivot to focusing on Web3 banking. The switch to Vaulta is tentatively scheduled for the end of May and will include a new token and the establishment of an advisory group known as the Vaulta Banking Advisory Council to help with the firm’s new direction, the company said in a March 18 statement.
Some who volunteered to assist in developing the network say there was a lack of support and direction from Block.one. Related: Tracing the evolution of Blockchain, with Eos Network Foundation execBlock.one made a $24 million settlement with the Securities and Exchange Commission in September 2019, and some commentators argued that the firm’s focus then shifted from EOS’ base tech to other projects — like the social app-turned-NFT marketplace Voice and the crypto exchange Bullish.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Jody McDonald
The story "EOS Network rebrands to Vaulta in shift to Web3 banking" has 401 words across 14 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "EOS Network rebrands to Vaulta in shift to Web3 banking" was covered 13 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 494 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
