Leading crypto exchange Binance has introduced a new research division, adding another service to its list of offerings. The new division, Binance Research, will investigate and report on cryptocurrency and blockchain projects in an attempt to provide accurate and thorough data.
Each report from Binance Research will survey a different project and collect data in a number of areas: in addition to key metrics and market data, research will also cover project news, progress, team members, technical code, and many other categories of information.
Binance Research will collect data by directly interacting with developers and project leaders, who can provide in-depth information about their work. The division also employs a number of experts in various fields in order to analyze information as thoroughly as possible.
This will increase the overall transparency of the blockchain industry: Binance Research’s reports can be accessed for free, allowing anyone to find out about a project. The fact that the reports are free will also reduce the likelihood of possible conflicts of interest, as Binance will not directly profit from any of its coverage. Visitors can already read the project’s analyses of Loom and GoChain, and an analysis of PundiX is forthcoming.
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Binance’s Ongoing Expansion
Binance has expanded dramatically over the past year: Binance Info and Binance Academy recently launched with the goal of distributing information and offering lessons to the crypto community. Additionally, Binance has expanded its Charity Foundation, and it plans to introduce a DEX in the future.
All of these activities are expanding the domain of the largest crypto exchange in existence, and a research division is a natural addition to the exchange. Binance notes that it has traditionally done analysis in order to improve its trading platform. This new division will allow the entire crypto community to make use of its findings, as the announcement explains:
“With the evolution of Binance from crypto trading platform to blockchain ecosystem, we welcomed the responsibility of being a trusted thought leader.”
Meanwhile, other notable organizations have created research initiatives of their own. Various academic institutions have launched their own research labs. One of China’s ministries has also announced plans for a blockchain research lab. However, these research centers mainly pursue new applications for blockchain technology, while Binance will focus primarily on analysis.
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