Verify a decision

{"actor":"system:backfill","investigation_id":"1a8ab90d-615d-437f-911e-9003da98fe20","kind":"publish","page_slug":"quant-network","published_at":"2026-05-14T06:03:03.071Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Quant Network","sections":[{"content":"Gilbert Verdian founded Quant Network Ltd (UK Companies House #09798383, incorporated 2015). Verdian previously held roles at government agencies including the UK Treasury and Australian government. Publicly identified leadership with no anonymous team members.","heading":"Founder and Corporate Structure","severity":"low","sources":[{"credibility":1,"name":"Companies House: Quant Network Ltd","type":"regulatory","url":"https://find-and-update.company-information.service.gov.uk/company/09798383"},{"credibility":2,"name":"Gilbert Verdian Bio — Quant Network","type":"official","url":"https://www.quant.network/assets/uploads/2022/04/Gilbert_Verdian_Quant_Bio_09May22.pdf"}]},{"content":"Overledger is a closed-source, proprietary API interoperability gateway. It has been criticized for lack of open-source auditability and historically sparse public GitHub activity through 2022. Overledger Fusion (Layer 2.5) launched in May 2025.","heading":"Overledger Technology","severity":"medium","sources":[{"credibility":2,"name":"BestDapps: Top Criticisms of Quant","type":"research","url":"https://bestdapps.com/blogs/news/top-criticisms-of-quant-qnt-explained"},{"credibility":2,"name":"CoinCodeCap: Quant Network Analysis","type":"research","url":"https://coincodecap.com/quant-network"}]},{"content":"UK Regulated Liability Network involves Barclays, HSBC, Lloyds, NatWest, Nationwide, and Santander — confirmed by UK Finance and Ledger Insights. Project Rosalind with Bank of England and BIS completed successfully. UK GBTD tokenised sterling deposits pilot with six major banks active through mid-2026.","heading":"Verified Institutional Partnerships","severity":"low","sources":[{"credibility":1,"name":"UK Finance: RLN Experimentation Phase","type":"official","url":"https://www.ukfinance.org.uk/news-and-insight/press-release/uk-finance-announces-successful-outcome-regulated-liability-network"},{"credibility":2,"name":"Ledger Insights: UK Banks Join RLN Trials","type":"news_article","url":"https://ledgerinsights.com/uk-banks-join-regulated-liability-network-trials-as-r3-quant-tech-selected/"},{"credibility":2,"name":"CoinTelegraph: UK Finance Tokenised Sterling","type":"news_article","url":"https://cointelegraph.com/news/uk-finance-tokenized-sterling-deposits-barclays-hsbc-quant"},{"credibility":2,"name":"FinTech Magazine: BIS/BoE/Quant CBDC Project","type":"news_article","url":"https://fintechmagazine.com/articles/bis-quant-boe-complete-cbdc-exploration-project"}]},{"content":"Quant is widely reported as an ECB Digital Euro pioneer partner. The ECB's press release confirms ~70 organizations were selected, though Quant's name does not appear in the ECB release text directly — it is reported in trade press.","heading":"ECB Digital Euro Partnership","severity":"low","sources":[{"credibility":1,"name":"ECB: Digital Euro Innovation Platform","type":"regulatory","url":"https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr250505~00207689f9.en.html"}]},{"content":"No SEC enforcement actions. FINMA classifies QNT as a utility token. No FCA authorization found, but Quant collaborates with FCA-regulated banks. No court filings or fraud findings identified.","heading":"Regulatory Status","severity":"low","sources":[{"credibility":1,"name":"Companies House: Quant Network Ltd","type":"regulatory","url":"https://find-and-update.company-information.service.gov.uk/company/09798383"}]},{"content":"Hard cap of 14.6M tokens. 68% sold at ICO for ~$11M (well below $40M target). 9.5M tokens burned post-ICO. 12-month lock mechanism for developer licenses. The company retains ~2M reserve tokens with no public audit of holdings.","heading":"Token Economics","severity":"medium","sources":[{"credibility":2,"name":"BestDapps: Top Criticisms of Quant","type":"research","url":"https://bestdapps.com/blogs/news/top-criticisms-of-quant-qnt-explained"}]},{"content":"Overledger's closed-source nature limits independent security auditing. Governance is centralized under Quant Network Ltd. The developer licensing model requires payment, creating barriers to ecosystem participation.","heading":"Closed-Source and Centralization Concerns","severity":"medium","sources":[{"credibility":2,"name":"CoinCodeCap: Quant Network Analysis","type":"research","url":"https://coincodecap.com/quant-network"}]},{"content":"Active QNT airdrop and rewards impersonation scams have been documented. These are unaffiliated with Quant Network but exploit the brand.","heading":"Third-Party Scams","severity":"medium","sources":[{"credibility":2,"name":"PCrisk: Quant QNT Airdrop Scam","type":"research","url":"https://www.pcrisk.com/removal-guides/29770-quant-qnt-airdrop-scam"}]}],"sources_used":[{"credibility":1,"name":"Companies House: Quant Network Ltd","type":"regulatory","url":"https://find-and-update.company-information.service.gov.uk/company/09798383"},{"credibility":1,"name":"ECB: Digital Euro Innovation Platform","type":"regulatory","url":"https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr250505~00207689f9.en.html"},{"credibility":1,"name":"UK Finance: RLN Outcome","type":"official","url":"https://www.ukfinance.org.uk/news-and-insight/press-release/uk-finance-announces-successful-outcome-regulated-liability-network"},{"credibility":2,"name":"Ledger Insights: UK Banks RLN","type":"news_article","url":"https://ledgerinsights.com/uk-banks-join-regulated-liability-network-trials-as-r3-quant-tech-selected/"},{"credibility":2,"name":"CoinTelegraph: Tokenised Sterling","type":"news_article","url":"https://cointelegraph.com/news/uk-finance-tokenized-sterling-deposits-barclays-hsbc-quant"},{"credibility":2,"name":"FinTech Magazine: BIS/BoE Project","type":"news_article","url":"https://fintechmagazine.com/articles/bis-quant-boe-complete-cbdc-exploration-project"},{"credibility":2,"name":"Gilbert Verdian Bio","type":"official","url":"https://www.quant.network/assets/uploads/2022/04/Gilbert_Verdian_Quant_Bio_09May22.pdf"},{"credibility":2,"name":"BestDapps: QNT Criticisms","type":"research","url":"https://bestdapps.com/blogs/news/top-criticisms-of-quant-qnt-explained"},{"credibility":2,"name":"CoinCodeCap: Quant Network","type":"research","url":"https://coincodecap.com/quant-network"},{"credibility":2,"name":"PCrisk: QNT Airdrop Scam","type":"research","url":"https://www.pcrisk.com/removal-guides/29770-quant-qnt-airdrop-scam"}],"summary":"Quant Network (QNT) is a UK-incorporated enterprise blockchain interoperability platform built on proprietary Overledger technology. Founded by Gilbert Verdian, the company has verified partnerships with major UK banks (Barclays, HSBC, Lloyds, NatWest) through the UK Regulated Liability Network, and completed Project Rosalind with the Bank of England and BIS. No SEC enforcement actions exist. Key concerns include closed-source code limiting auditability, centralized governance, a pay-to-play developer licensing model, and some partnership announcements with limited verifiable follow-through.","timeline":[{"date":"2015-09-01","event":"Quant Network Ltd incorporated in the UK (Companies House #09798383)","source":"companies house","source_url":"https://find-and-update.company-information.service.gov.uk/company/09798383"},{"date":"2018-04-01","event":"QNT ICO raises ~$11M (below $40M target); 9.5M tokens burned post-ICO","source":"bestdapps.com","source_url":"https://bestdapps.com/blogs/news/top-criticisms-of-quant-qnt-explained"},{"date":"2023-01-01","event":"Project Rosalind with Bank of England and BIS completed","source":"fintechmagazine.com","source_url":"https://fintechmagazine.com/articles/bis-quant-boe-complete-cbdc-exploration-project"},{"date":"2024-01-01","event":"UK Regulated Liability Network experimentation phase with six major banks","source":"ukfinance.org.uk","source_url":"https://www.ukfinance.org.uk/news-and-insight/press-release/uk-finance-announces-successful-outcome-regulated-liability-network"},{"date":"2025-05-01","event":"Overledger Fusion (Layer 2.5) launched","source":"quant.network","source_url":"https://www.quant.network/"},{"date":"2025-05-05","event":"ECB Digital Euro Innovation Platform partner selection announced","source":"ecb.europa.eu","source_url":"https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr250505~00207689f9.en.html"},{"date":"2026-01-01","event":"UK GBTD tokenised sterling deposits pilot active with six major banks","source":"cointelegraph.com","source_url":"https://cointelegraph.com/news/uk-finance-tokenized-sterling-deposits-barclays-hsbc-quant"}]},"v":1}