Founded on July 12th, 2019, Korea Blockchain Ratings Inc. (KBR) is a specialized blockchain project evaluation organization that offers comprehensive analyses of blockchain projects and benchmarks them according to their technical and commercial feasibility.
The company started operations on September 25th, according to a report from Cheongnyeon Ilbo and other local media.
As per the press release, Korea Blockchain Ratings has brought in credit rating experts from Nice Credit Information Service, one of the largest credit rating agencies in Korea. KBR also has an advisory committee formed by blockchain project planners and security experts.
The company will issue multi-tier ratings — technical ratings ranging from T1 to T10, with T1 being “the highest level of technology,” and business ratings ranging from B1 to B10, with B1 representing “the highest level of business performance and competitive advantage.” Based on these factors, a final rating is presented, ranging from AAA to D, with AAA representing the highest potential.
To evaluate a project, the KBR will study its white paper, team profile, technical information, financial statements, three-year performance, and shareholder structure, among others.
In a recent press release, Korea Blockchain Ratings announced that it has issued its first rating of BB — comprising a B4 business rating and T5 technology rating — to Charzin, a blockchain solutions provider for the electric vehicle charging market.
The rating agency has also unveiled plans to expand the evaluation business to all industries where blockchain technology is being implemented, such as fintech, energy, and education.
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