South Korea has received a new company devoted solely to assessing the potential of blockchain projects. According to TokenPost, Korea Blockchain Ratings, Inc. began operations on September 25th.
Following its founding on July 12th of this year, Korea Blockchain Ratings, Inc. (KBR) has officially begun operations on September 25th with a mission to improve South Korea’s blockchain industry as a whole. The function of the enterprise will be to screen and evaluate the technical and business potentials of blockchain projects and calculate their feasibility.
The company’s purpose is to move blockchain technologies and their operators forward by coping with the current issue of a lack of trustworthy information and proper regulation. By confirming the health of blockchain technologies and their feasibility, KBR hopes to foster a healthy ecosystem for companies entering the realm.
The ratings firm has set out to evaluate blockchain projects using objective criteria and to provide accurate data that can bolster investor confidence and adoption. It will thoroughly pour over the technical aspects of new systems and assign clear grades to projects.
Experts from Nice Credit Information Service have been employed to realize the company’s mission. KBR has outlined a multi-tier technical rating system, with T1 denoting “the highest level of technology” and T10 signaling the lowest score. Grades from AAA to D will indicate business performance and competitive advantage.
The firm then combines technical and business potentials for a final grade also ranging from AAA to D. Its assessment analyzes white papers, team profiles, and performance among other factors.
So far, KBR has rated blockchain solutions provider for electric vehicle charging, Charzin, handing it a grade of BB.
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