Binance, the world’s largest cryptocurrency exchange, announced in a press statement published Thursday that it would add a research wing to its platform. The new department will focus on preparing “institutional-grade” research reports.
The research wing has two main goals. The first one is to enhance transparency and the second one is to give high-quality information that will positively impact the cryptocurrency ecosystem. It will release in-depth reports detailing specific crypto-related projects – projects which are already listed for trading on the crypto exchange.
The new department posted its first few pieces of research in tandem with the announcement. The reports focus on a decentralized blockchain that supports distributed apps (dApps), smart contracts and scaling solutions for Ethereum. You can access the pieces at info.binance.com. The announcement reads in part:
“Binance research reports show the level of transparency we want all projects to publicize. We hope these reports will raise the standard for transparency in the industry overall, and provide the community with insight into the progress, commitment, and authenticity of each project.”
Binance research is the 3rd education initiative to launch in 2018. The company launched Binance Info in February. It launched Binance Academy in August to promote education on blockchain and digital assets.
Dedicated to transparency
This is not the first time Binance is taking steps toward making the platform as transparent as possible. In October this year, the platform announced that it would introduce a new fee structure for listing cryptocurrency projects. It said it would donate all the proceeds from listing fees to charity causes. The exchange also allowed blockchain projects to decide how much they’d like to donate.
The decision to publicize fees that arise in the process of getting a coin added to the platform is likely a response to previous accusations that Binance charged up to $2.5M to list a new project.