- Binance has announced the launch of its new analytics arm, Binance research
- This arm will publish comprehensive reports on various coins, networks and so on, giving detailed information for potential investors
Binance has announced the launch of its new analysis division called Binance research.
On the official post on the Binance website on November 8, 2018, it was stated that the focus of the new division would be institutional-grade research and it would also aim to increase transparency in the crypto industry and increase the quality of research activities in the industry.
These efforts are already bearing fruit as two reports from the analysis arm are already online and more will be released in the coming weeks.
The reports so far
The first report published by the research arm is one on the Loom network.
The research gives an in-depth look at the history of the project, including its milestones and its historical price data. It goes as far as to list some of the specific wallet addresses that hold a majority of the tokens.
The same was done for GoChain as the history of the project was explored in their report, some information of its developers was given as well as price graphs and charts and sales data.
Next on their agenda is a similarly-detailed look at PundiX. More reports on various entities will also be released over the next few weeks.
Binance essentially intends to provide a comprehensive breakdown of the various coins, networks and so on to allow investors to have a clear idea before they make their decision.
The data is stated to be unbiased and gives facts, charts, figures and so on about each subject.
“Each report is divided into a number of different segments, each filled with data, links, references, tables, charts, and more useful information, all compiled in a single document.”
The need for research
While the cryptocurrency industry is growing every year, it is still in its infancy and attracting institutional investors is still one hurdle it needs to cross.
By offering an unbiased view of coins and other investment options, investors do not have to go in blind and will be more informed before making decisions.
On top of this, research like this helps give a written database of the history behind various coins and networks which can prove helpful in the future.
It also combats the idea of blockchain investments being sketchy and undocumented.
Should Binance set an industry standard, coins, networks and so on will be placed under more scrutiny and will have to sell themselves to investors on pure facts and a healthy return history rather than speculation or piggybacking off the current hype within the blockchain industry.