Cryptocurrency data and research company Messaging is launching a disclosures registry for basic cryptoasset information, according to a press release published Nov. 27.
Messari is a New York-based startup, which provides insights, markets data, and research tools in the crypto industry for investors, regulators, and the general public. In March, secured between $ 1- $ 5 million in early-stage funding to launch its disclosure database, according to Forbes.
For the recent Messari announcement, the company has launched the open-source registry disclosures, which aims to become "single source" for basic cryptoasset information. Twelve initial partners have also joined the project, including the industry players as a secure identity ecosystem and the Civic and blockchain protocol Aion.
While forming the database, Messari will purportedly collect basic information voluntarily disclosed by the participating parties token design, supply details, technical issues, as well as investors and advisors. The profiles will be reportedly free of access within the industry. The release further explains:
"With the launch of the Messari registry, they will be able to better communicate material updates with both their existing communities and external stakeholders …"
Ryan Selkis, the CEO of Messari, stated that transparency is critical for the development of the crypto economy. He noted that participating projects "should be freely accessible to all market participants, rather than locked behind the paywall of any single data provider."
Other organizations in the cryptocurrency space have also formed self-regulatory and development bodies. In April, the sixteen Japanese exchange agent took steps to launch the Japanese Cryptocurrency Exchange Association (JCEA). JCEA – the Japan Blockchain Association (JBA) and Japan Cryptocurrency Business Association (JCBA).
A Foley & Lardner LLP study published in June reveals that 86 percent of cryptocurrency firms are executives and investors want the industry to self-regulate. A total of 89 percent of respondents saw the need for "formalized" self-regulation, with a slightly lower majority considering that these formalized standards should have regulatory oversight from authorities.