Investment banks are now competing with each other to attract as many people as possible. At a time when crypto is on the rise, they are developing various solutions to reassure users about the reliability of crypto wallets. Such is the case of Goldman Sachs. He is currently developing a crypto classification system for institutional investors.
A crypto project under development
The official announcement was posted on the account of Twitter from Coin Metrics. This blockchain analysis company is indeed joining the multinational investment bank Goldman Sachs and MSCI to develop a crypto classification system: Datonomy.
More precisely, this project was initiated by Goldman Sachs. More than a simple investment bank, it is positioned as a financial giant in the United States. MSCI and Coin Metrics will act as development partners. It specifically targets institutional investors, including hedge fund managers and asset management firms (including crypto platforms). “The bank wants to help investors make sense of crypto,” explained the CEOs of the three participating entities.
What Datonomy will bring to the world of cryptocurrency
The name of the Datonomy crypto classification system was not chosen at random. It is indeed a play on the scientific term “taxonomy”. It is used to classify the natural world.
Thus, Datonomy will have the main mission of classifying the space of digital assets (including crypto) into several classes. These classes will in turn be divided into sectors and sub-sectors. The objective of this approach: to facilitate understanding of the ecosystem of digital assets by institutional investors.
More explicitly, the Datonomy crypto classification system will generate data streams that will serve as support for analysis and research. Institutional investors will be able to use them to manage crypto portfolios, but not only! It will also allow them to compare performance and even create different investment products.
In their approach, Goldman Sachs, MSCI and Coin Metrics do not only aim to create a coherent and standardized framework for the classification of cryptocurrencies. They also intend to optimize the development of this ecosystem and make crypto accessible to as many people as possible. A project to watch closely…
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