Messari: TwoBitIdiot’s Open Data CryptoAssets EDGAR Database?

What is Messari?

Messari is an open source EDGAR database for crypto assets. In lame terms, it’s an organization that will provide true and honest information of the crypto assets, which can be assessed by crypto experts, media, investors, developers, and regulators. Messari enjoys support from various organizations including ConsenSys, TokenSoft, Balanc3, Frontier, TruSet, Token Filings, Token Foundry,

The ICO Governance Foundation (IGF), a new self-regulatory industry standards body, will provide and maintain an open voluntary public filing and registration protocol called Form IGF-1 as well as a public registration database, which performs collection, validation, indexing, acceptance, and forwarding of submissions.

The IGF-1 protocol is designed to primarily help investors understand basic token economic information:

• Who gets paid?
• By whom?
• When and under what circumstances?
• Why?
• How do they get paid?

The IGF has proposed the filing of a token project’s basic disclosure form, covering initially some 26 topics. Messari and the IGF will centrally manage the registry initially, but its contents will be made immediately available via a GPL. The plan is to transfer oversight and maintenance of the registry to a decentralized network later.

Messari, a new transparency and disclosures project, shared their vision to become the open source data library for the universe of crypto assets –– an SEC EDGAR-like solution for consumer protection. Ryan Selkis, founder of the Messari project, summarized the crux of cryptocurrency: Quasi-fiduciaries are selling quasi-securities, and there is no gold standard for disclosure.

What is EDGAR?

EDGAR (Electronic Data Gathering, Analysis, and Retrieval) technology borrows a leaf from the U.S. Securities and Exchange Commission (SEC). EDGAR is an online public database from the U.S. Securities and Exchange Commission (SEC). EDGAR performs an automated collection, validation, indexing, acceptance, and forwarding of submissions by companies and others who are required by law to file forms with the SEC.

EDGAR’s primary purpose is to increase the efficiency and fairness of the securities market by accelerating the receipt, acceptance, dissemination, and analysis of time-sensitive corporate information filed with the SEC. A secondary purpose of EDGAR is to provide transparency in the marketplace by making documents that have been filed quickly available to investors over the Internet.

The system allows you to research a company’s activities, registration statements, prospectuses, and periodic reports, which include financial statements. EDGAR also provides access to correspondence about corporate filings reviewed by the SEC staff.

How Messari Will Benefit Society?

Messari will act as an online data library, which various stakeholders, financial advisors, media, and crypto experts can use to analyze the behavior and performance of crypto assets such as Bitcoin, Litecoin, and Monero.

Crypto asset data collection was a big challenge because of the vast information and security concern but Messari’s initiative to use EDGAR will bring enormous improvements to the system and it will be a next step towards decentralization and freedom of knowledge sharing.

If you are hoping to join the crypto market, then Messari will be one of the partners to help you walk the journey.