Investment bank and Financial service firm Goldman Sachs has revealed it is set to release a data service to classify hundreds of digital coins and tokens so institutional investors can comprehend the rapidly growing digital asset class.
Created in collaboration with global index provider MSCI and crypto data firm Coinmetrics, the data service is called Datanomy. The name was derived from the combination of data and taxonomy – a branch of science focused on naming and classifying the natural world.
Datanomy is created to address the issue of many digital assets not being classified into their respective sectors. As the digital asset ecosystem has been expanding over the years, it could appear overwhelming to grasp if not familiar with the various sectors of the expansion.
Coin Metrics CEO Tim Rice said large asset managers wanted an “adult framework” to understand digital assets better and invariably discuss them.
Rice…
