According to a Seoul Finance report, Blockchain Project Evaluation began its operation on 25th September. The company aims to rate blockchain firms based on various factors to aware investors. The executives of the company previously worked at Nice Credit Information Service, a Korean rating agency.
The company has an advisory committee and blockchain experts to analyze blockchain projects based on different criteria. The company will rate the project’s technology on the scale of T1 to T10, lower being better, and business will be rated from B1 to B10. From those, a final rating is arrived at, ranging from AAA to D which would be maintained for two years.
Korea Blockchain Evaluation will assess the project’s white paper, the profile of the project team, technical evaluation data, three-year performance, the latest monthly financials, and the shareholding structure. The company will also look at the competitiveness of the project in its ratings.
The company issued its first rating to Charzin, a blockchain firm that provides solutions for electric vehicle charging market. In its evaluation, Charzin secured a B4 business rating and a T5 technology rating and a final rating of BB.
According to the report, the company aims to provide sufficient information to the investors before they put their funds in the company. The executives of the company believe that investors are harmed by the lack of information and week regulation on blockchain projects, and they are looking to solve those issues.
Let us know in comments, what do you think about the Korean based evaluation company?