Famously known Frenchmen Whistleblower Herve Falciani has recently announced that he’s planning to launch a new cryptocurrency of his own.
Named Tabu, Falciani is launching this in hopes that the new token will be adopted by regulatory authorities and used as a means of ensuring money is clean and transactions will not be conducted fraudulently.
Falciani claims that he has over 5 million Tabu tokens, estimated to be 2 million euros, that will be offered to interested investors once Spain’s financial regulator, the National Securities Market Commission, has green-lighted the project. The project has successfully gained over 1.3 million Euros for the time being but still needs to acquire an additional 2 million euros to ensure that it can become incredibly successful.
A non-profit organization founded by Falciani named Tactical Whistleblowers was behind the creation of Tabu.
Based in Valencia, the organization also includes academics, mostly mathematicians, from the Valencia Polytechnic University in eastern Spain.
Alongside with his cryptocurrency project, Falciani has plans to also launch a blockchain system that shall be used to authenticate government procurement contracts. All over the world, these contracts are regularly being used as a means of placing money into the hands of corrupt government officials and their associates in the private sector.
The newly developed system shall be dubbed Alethia, which is a Greek term that translates to disclosure in English.
During an interview with Reuters Falciani said,
“Fake information is the basis of any kind of fraud,”
“The same way that we have to deal with fake news, the same technology can [be] applied to fake invoices.”
As a former computer programmer for HSBC, Falciani name became famous during 2008 after he successfully leaked a huge spreadsheet that contained the names of over 130,000 tax evaders.
Fearing that he would be extradited from Switzerland, where he was charged with over five years in prison, he jumped ship and moved all the way to Spain. Although, he was arrested during the previous summer by local authorities but released shortly afterward, with the Spanish court stating that it does not recognize the charges made against him by the Swiss government.