The cryptocurrency market is in constant development, even in the midst of this relentless bear market. A frenzy of innovation and experimentation that can quickly lose investors. With the risk of coming across a project that is too promising to be honest or sectors that are still obscure yet destined to become the next explosive hype. A selection exercise investment bank Goldman Sachs wishes to simplify for its institutional clients, with the creation of the tool Datanomy.
The bank Goldman Sachs is one of those weathervanes of Bitcoin, which in the space of a year has become one of the flagships of crypto investment for institutions. It must be said that the latter are increasingly expressing the desire to dive into this digital economy. But while maintaining the security 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 portfolios. And in order to support them in this effort, the development of a database called Datanomy.
Datanomy – Helping Institutional Investors
The Datanomy project is backed by Goldman Sachs Bank, in partnership with global index provider MSCI and crypto data company Corner Metrics. This is to develop a database dedicated to the digital asset market, the regulatory correct name for cryptocurrencies. With the goal of helping “institutional investors who may be unfamiliar with this sector understand the hundreds of coins and tokens that now constitute a $1.05 trillion industry”.
” We announced the launch of Datonomy, a new classification framework for the digital asset market in collaboration with MSCI and Coin Metrics. Datonomy is designed to provide increased standardization and transparency to the digital asset ecosystem.”
In fact, the challenge of this Datanomy service is to offer a classification of cryptocurrencies. But also a standardization of the latter according to precise parameters “thus creating an increased level of transparency on the evolution of the market”. A way to help institutional players “visualize and analyze the ecosystem of digital assets” before deciding to invest their funds there. But also, according to the MSCI structure, “to assess the sources of risk and opportunities for return” 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 several “digital asset” indices in relation to the cryptocurrency sector. The first more general (Global Digital Asset). And the other two relate to projects that are not based on Proof of Work (Digital Assets ex Proof-of-work) and to 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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