Korea Blockchain Ratings begins operations to bring accurate information to investors
Fri, 27 Sep 2019, 07:48 am UTC
A new company focused on evaluating blockchain projects officially commenced its operations on September 25 in South Korea.
Founded on July 12, 2019, Korea Blockchain Ratings, Inc. is a specialized blockchain project evaluation company that comprehensively examines the technical and business feasibility of blockchain projects and assigns them grades.
The company believes that the blockchain market faces a number of challenges including a lack of proper information disclosure about projects and inadequate regulations, which obstructs the establishment of a healthy ecosystem.
To address these issues, Korea Blockchain Ratings said that it will assess the projects using objective criteria and provide accurate information on projects to protect investors.
According to TokenPost Korea, the company has brought in credit rating experts from Nice Credit Information Service, one of the largest credit rating agencies in Korea. Korea Blockchain Ratings also has an advisory committee composed of blockchain project planners and security experts.
The company will issue multi-tier ratings – technical rating, ranging from T1 to T10, with T1 representing “the highest level of technology”, and business rating, ranging from AAA to D, with AAA representing “the highest level of business performance and competitive advantage.” Based on these, a final rating is calculated, ranging to AAA to D, with AAA representing “the highest level of technology and business.”
For evaluating a project, the company will examine its white paper, team profile, GitHub information, financial statements, three-year performance, shareholder status and capital expansion plans, among others.
In a press release dated September 25, Korea Blockchain Ratings announced that it has issued its first rating. It has assigned BB rating to Charzin, a blockchain solutions provider for electric vehicle charging market.
Korea Blockchain Ratings said that it plans to expand the evaluation business to all industries where blockchain technology is being implemented, such as fintech, energy, and education.
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