Global Crypto Assets Classification Standard By Brave New Coin
The new BNC’s General Taxonomy for Cryptographic Assets is a program that helps manage the crypto assets that consumers maintain, identifying this type of remedy as a “superclass.” The tool was only just launched this week, but it helps investors, regulators, asset managers and developers to take control of their mining and improve their investments.
Essentially, this program allows consumers to use this class of assets as an impressive method of profit in their own investments. In fact, BNC Head of Research Rafael Delfin says, “The advent of blockchain technology is enabling mass collaboration across world markets and is generating millions of transactions and interactions daily. For this rapidly-evolving industry to be effectively evaluated and interpreted, a consistent and comprehensive global classification is important.”
The General Taxonomy makes the entire process of evaluating crypto assets much simpler, allowing users to access a pool of data that contains a variety of assets. By using it, stakeholders will be able to:
- Identify the strengths and weaknesses of the various protocols in an organized way
- Judge how the various assets impact the industries in local, regional, and global industries
- Analyze and compare how each contribution impacts peers or benchmarks
- Create research and protocols, based on the accumulated knowledge
Consumers that want to use this strategy would be keen to read Robert Greer’s seminal 1997 paper ‘What is an Asset Class, Anyway?' In it, they will learn about the three different superclasses of assets, which are Capital Assets, Consumable/Transformable Assets, and Store of Value Assets.
In 2016, a whitepaper was released, titled “Bitcoin: Ringing the Bell for A New Asset Class.” Essentially, the creators toyed with the idea that Bitcoin could function across multiple superclasses. As the value of cryptocurrency reaches substantial profits, General Taxonomy makes it easier to control all assets from one place. Furthermore, the impressive transparency helps to gain a healthier and more beneficial reputation for the crypto world.