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Binance Launch Info 2.0 - Here’s What You Need To Know

 
Binance Launch Info 2.0 - Here’s What You Need To Know
Breaking News / Exchanges
This week, Binance have made the huge new announcement of Binance Info 2.0, a database that aims to be the most comprehensive crypto rating database in the world. Crypto ratings are becoming more and more common, both on a business level (ratings from finance institutions) and even from government led research labs. People want to know what the ‘experts’ think about cryptocurrencies, therefore, Binance believe that now is the time for them to tap into this new area, by providing a ratings database for all cryptocurrencies that can be accessed by anyone. A rating database, backed by such a huge brand in cryptocurrency would have a huge attraction, though we should remember that even though this database is being built by Binance, it’s still not investment advice. According to Blokt, Binance have said:
“Binance Info is designed to enable users to quickly learn about each project and the network and services it provides.”
Furthermore, according to Blokt:
“Its team has analyzed 1,400+ coins and tokens. Info 2.0 has launched in beta and will provide the most comprehensive compilation of third-party ratings on blockchain projects. Binance Info is utilizing rating data from over 50 rating agencies and publications, including blokt.com, and has a repertoire of over 1,000 reports so far. All the reports are free to download for users. Binance suggests that the goal of this platform is to help users learn more about projects available in their ecosystem. White papers, the utility of a token, founding team would be some examples of the information topics available on the platform. Users can access all reports at Info.Binance.com.”
Is there a future for this sort of interaction? Is it right that cryptocurrency exchanges are going to start offering us their own crypto ratings? Surely, this could be seen as manipulation? It’s important that their ratings remain impartial and are not set out to benefit the exchange. With such a huge name like Binance, we can expect that they don’t wish to ruin their reputation with this and that therefore Binance Info 2.0 hasn’t been designed to manipulate customers, however, new exchanges wanting to explore this area do need to bear this in mind, this could be seen as manipulative, if it’s done in the right way. Overall though, I think the crypto community are going to be able to put more confidence in ratings and rankings published by actual crypto companies, as opposed to ratings published by government think tanks and finance institutions that are external to the industry. References Blokt

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