According to a November 27th press release, Messari has opened a disclosures registry in conjunction with 12 initial partners. The purpose of the registry is to become a single source of truth in the crypto industry, which lacks any credible source for blockchain data.
Messari promoting transparent data
Messari has control of this project and 12 initial partners will be uploading their data for the platform to collate. The twelve partners are Aurora (IDEX), Aion, Blockstack, Civic, Decent, District0x, Mainframe, Melonport, Metronome, Ocean Protocol, Tierion and Zilliqa. To date, there has been a notable lack of reliable data in the industry, though certain projects such as the privacy coin matrix help to objectively analyze information relating to specific cryptocurrencies. According to the press release –
“Messari plans to distribute registry data freely to a number of crypto service providers who have
expressed interest in using this data for their own token diligence and end-user resources. At launch, Messari will be the sole validator of registry data but is inviting third-parties to join us in our efforts. We are accepting a limited number of early invitations for validators”
With the launch of the platform, potential investors will be able to verify company information on the new registry. This is quite significant, given the huge number of scams in the ICO sector. A validator of some kind is needed along with a uniform interface, Messari being the first to launch one.
What is Messari?
Messari is aiming to become the standardized provider of blockchain data, a resource where industry participants and investors can look toward for credible information. There is little argument that a reputable resource is badly needed. Transparency is practically non-existent in many respects for new ICO projects, some of which collected millions of dollars without a legal address, white paper, product, or business plan. Messari also provides market insights and information to make sense of an industry that is very difficult to penetrate due to a distinct lack of historical data or regulatory standards.
The Mesaari project is likely to assist the DLT industry to self-regulate without outside intervention. This is already happening to a degree in areas such as Japan. However, the community is divided as to whether regulation is necessary or not. While it sounds good on paper, so far the rise of DLT has been beset with hacks, scams, and widespread market manipulation.
Digital Nomad with an interest in Zen and Blockchain technology.
Law graduate with 3 years experience as a consultant in the capital markets industry and 4 years experience freelancing on UpWork as a Creative Writer.