One of the top providers of crypto data and research tools on digital assets Messari has announced the addition of DigitalBits (XDB) to the Messari Registry. As a participant, DigitalBits governing body, the XDB Foundation will be providing regular updates and commit to transparency. The DigitalBits blockchain was built to support consumer digital assets – branded currencies. As the company stated, “a global, legacy digital asset class, branded currencies play a vital role in consumer-brand interactions, and account for billions of dollars in value. Branded currencies issued on the DigitalBits blockchain will also be included within the Messari Registry.”
Additionally, Messari and the XDB Foundation “may explore the buildout of a novel registry to accommodate branded currencies tokenized on DigitalBits. This registry would address issues consumers face when determining the legitimacy of branded currencies and their respective organizations,” the announcement said today. The goal is to provide a standardized framework for organizations leveraging branded currencies, certifying asset legitimacy, and clearly outlining characteristics including but not limited to asset issuance and organization identity.
Commenting on the news, Messari representatives said they recognize the potential for the use of branded currencies to grow in the future as more enterprises embrace blockchain technology. Ben O’Neill, Vice President, BD & Operations at Messari said the Registry will help all interested parties to determine whether or not an asset is affiliated with the brand it purports, as well as the characteristics and utility of said asset. This information helps to maintain brand reputation, while allowing consumers and organizations to confidently engage with branded currencies, he added.
“Branded currencies represent a vast asset class ripe for disruption. We are excited to see Messari support this category as an independent source of validated data, much like we’ve seen throughout the history of the Internet, with the Regional Internet Registries and other independent bodies creating registries to verify the assignee of a core Internet resource such as an IP block or an autonomous system. Messari’s Disclosures Registry will bring additional confidence to brands, merchants, consumers and others interested in branded cryptocurrencies,” said Michael Gord, XDB Foundation Managing Director.
Messari is the industry’s leading market intelligence company focused on the digital asset ecosystem. The company’s tools and research solutions provide customers with actionable insights to confidently make decisions in the fast-moving crypto-asset space. Since its inception in 2017, Messari has built strong relationships with the industry’s top thinkers, investors, and builders from today’s most promising projects.
DigitalBits is a blockchain protocol designed for consumer digital assets, specifically branded currencies. DigitalBits is focused on supporting innovators with driving enterprise adoption of cryptocurrency and its use in enhancing the consumer experience and corporate social responsibility initiatives.