The cryptocurrency market is constantly developing, even in the midst of this relentless bear market. A frenzy of innovation and experimentation that can quickly make investors lose. With the risk of running into a project that is too promising to be honest or in sectors that are still obscure but destined to become the next explosive hype. A selection exercise Goldman Sach investment banks wants to simplify for its institutional clients, by creating the tool Datanomy.
The bank Goldman Sachs is one of those Bitcoin weathervanes, which within a year has become one of the flagships of cryptocurrency investments for institutions. It must be said that the latter are increasingly expressing the desire to dive into this digital economy. But while maintaining the safety and guarantees of an official structure. With a simple strategy: stabilize the Bitcoin market by drowning it under the funds of these structures with well-stocked wallets. And to support them in this effort, the development of a database called Datanomy.
Datanomy – Helping Institutional Investors
The Datanomy project is supported by Goldman Sachs Bank, in partnership with the global index provider MSCI and the cryptographic data company Corner metrics. This is to develop a database dedicated to the digital asset market, the correct name for cryptocurrencies. With the aim of helping “institutional investors who may not be familiar with this industry understand the hundreds of coins and tokens that now make up a $ 1.05 trillion industry”.
” We announced the launch of Datonomy, a new classification framework for the digital asset market in partnership with MSCI and Coin Metrics. Datonomy is designed to provide greater standardization and transparency to the digital asset ecosystem.”
The challenge of this Datanomy service, in fact, is to offer a classification of cryptocurrencies. But also a standardization of the latter according to precise parameters “thus creating a greater level of transparency on the evolution of the market”. A way to help institutional actors to “visualize and analyze the ecosystem of digital assets” before deciding to invest your funds there. But also, according to the MSCI structure, “assessing sources of risk and opportunities for returns” in this sector.
A classification system whose “owner and sole administrator” is MSCI. With the participation of Goldman Sachs and Coin Metrics in an advisory board. Because the goal is to develop different indices of “digital assets” in relation to the cryptocurrency sector. The first more general (Global Digital Asset). And the other two concern projects that are not based on Proof of Work (Digital Assets ex Proof-of-work) and the smart contract sector (Digital Assets Smart Contract). Knowing that Datonomy remains accessible as a direct subscription stream data from Goldman Sachs, MSCI and Coin Metrics.
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