Why Cryptomarkets Need Trusted Token Reference Data
Much like participants in traditional financial markets, institutional participants in cryptoeconomies need trusted data to properly understand how tokens work in dApps, make investment and trading decisions, and to manage token-based portfolios. However, while this need for trusted data parallels existing needs in the legacy financial markets, blockchain innovation creates an opportunity to build the data ecosystem for tokens from the ground up without replicating many of the inefficiencies and pain points that exist in the legacy financial world.
The TruSet token data marketplace will build the foundation for structured, machine-readable, trusted, and accurate reference data for all blockchain-based tokens and token projects. This shared data set will be a resource for the entire crypto community. Both trusted and community-validated, this data can be used not only to power investment and trading analytics but also to facilitate the back office processing of portfolios where tokens represent investment products. For consumer tokens, community-validated data can help educate consumers about the tokens they use in dApps. By establishing this core data as the foundational source of truth about tokens and projects, TruSet has the potential to serve as the basis for product innovation in token-powered markets.