Herve Falciani, a former systems engineer and whistleblower at HSBC, is collaborating with fintech experts in and academicians in Spain in order to develop a new cryptocurrency he thinks regulators could embrace.
According to a February 8 report from Reuters, Falciani’s new crypto token will be called Tabu and is meant to be easily controlled. Tabu’s developers have marked it as an “ethical” token and made it traceable thanks to a certificate showing its clean record.
The project is developed by a non-profit entity Monaco-born Falciani founded, called the Tactical Whistleblowers. Various academics from the Valencia Polytechnic University make up the team behind Tabu.
Falciani currently holds 5 million Tabu tokens, valued at $2.3 million. The tokens are ready to be offered to investors once the team gets a green light from the Spanish market regulator, Reuters revealed. The Tabu project already raised over $1.4 million, but still requires over $2 million to complete, Falciani said.
Alongside Tabu, he also plans on launching a blockchain-based initiative that can be used to authenticate government procurement contracts. The new system, called Aletheia, a Greek term for “disclosure,” was inspired by the SWIFT system for interbank money transfers and messaging.