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Messari, an open-source version of the US Securities and Exchange Commission's cryptocurrency-based EDGAR database, is launching a disclosure registry for token-emitting projects to publicly share hard-to-find information.
The registry, announced on Tuesday at the Consensus: Invest event, will share a range of generally non-public information, including chip design, details of delivery, technology audits, official communication channels, cash management and contact information for team members.
Messari founder Ryan Selkis told CoinDesk that the platform aims to both standardize and automate this information, making it easier for investors or casual observers to know about projects of interest.
"What we're trying to do is make all the essential information about these various cryptographic badets, whether it's a small investor, a regulator, an academic or a mutual fund, "he said.
"The most important thing for us is to start an era where this is the norm, whereas today's is dictated by the asymmetry of information and insiders, where the last person to know about a change of [a project] is an occasional observer. "
"The main providers of liquidity around the ecosystem must adhere to a certain set of principles and a code of conduct [regarding] disclosures, "said Selkis.
However, this should be done on an "inclusion" basis, he said, since cryptography tokens are not exchange-traded securities. "So we start from the bottom up and look for what will protect consumers and what makes sense from a regulatory point of view," he said.
At launch, the Aion, Blockstack, Civic, Decent, District0x, IDEX, Mainframe, Melonport, Metronome, Ocean Protocol, Tierion and Zilliqa encryption startups will be included in the registry. Twenty other companies are currently in the queue, Selkis said.
In its early stages, the Messari team will take care of projects in their applications, but the ultimate goal is to decentralize the platform. At this point, a community vote will determine if a project is added to the registry or not. Anyone can apply to be registered by contacting the company.
The registry data will be publicly available and Messari will even have an API for companies interested in using the information provided.
It should be noted that the badets of a project will not be verified on the platform. In other words, even if, for example, the Ethereum Foundation or the Zerocoin Electric Coin Company can be verified as officials of the Ethereum and zcash, the tokens themselves will not see the same checks.
Index of images via Shutterstock
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