Herve Falciani To Launch New Cryptocurrency and Begin Another Blockchain Project

By Rishma Banerjee

Herve Falciani, a former systems engineer at HSBC and a well-known whistleblower, who is now living in Spain in a self-imposed exile has collaborated with fintech experts in and academicians in Spain in order to develop a cryptocurrency that can be easily regularized. He is looking forward to a different approach to fight fraud and money laundering with cryptocurrency and blockchain technology.

Falciani, who became a sensation as a whistleblower when he leaked client data which set off a chain of high profile tax investigations, is today working towards the launch of a token by the name Tabu which is supposed to be “ethical” and traceable as a result of a certificate displaying its clean record. He, in an interview, said,

“What happens with any innovation or any technology is that it can be used in a bad way or may be used in a friendly way with a social impact, positive social impact.”

The project is being conducted and monitored by Tactical Whistleblowers, a non-profit entity established in Spain by Falciani. Also in the group are academicians from various disciplines, with mathematicians from the Valencia Polytechnic University located in eastern Spain, making up the majority.

There are 5 million Tabu tokens that are currently available to be offered to investors as soon as the regulator of the Spanish market gives a go ahead. These tokens are worth 2 million euros ($2.3 million).

Herve Falciani also has another blockchain technology-based project for public administrations that will ensure that all electronic procurements are double-checked. This innovation will help many countries to tackle fraudulent schemes and overbilling. Speaking about the new system which is called Aletheia, he said,

“Technically and financially this opens the doors to improve the procurement systems. Because in public procurement we have a huge opportunity to spare money.”

Speaking about the importance of double checking in order to curb fraudulent activities he 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 applied to fake invoices.”