Cryptocurrency market needs an objective and independent rating system, that would cut through hype and fear, providing the market participants with reliable information and helping investors to make informed decisions, the head of Weiss Ratings, Dr. Martin Weiss said in the interview with CryptoSlate.
“Objective, independent rating systems are sorely needed to empower individual and institutional investors to help cut through hype and fear— to identify the truly promising cryptocurrencies,” he explained.
About Weiss Ratings
The company’s rating system is created for all interested parties like cryptocurrency users, developers, miners and token issuers, not solely investors.
The company provides three different rating systems for digital assets, focused on different needs of the stakeholders. Thus, Tech/Adoption grade is focused on long-term investment needs, Weiss risk/reward grade will suite the needs of short-term traders, while Weiss rating system can be used for a broad evaluation of cryptocurrencies.
Speaking about major challenges of the industry, Martin Weiss pointed out the lack of reliable data and weak collaboration between cryptocurrency industry companies.
“The scarcity of independent research to help all stakeholders agree on basic facts, engage in healthy debates, and move toward common goals. The companies can begin by encouraging awareness and education regarding conflicts of interest in the crypto industry.”
He also disapproves paid research practice as it creates a conflict of interests and erode trust to the information.
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