Former Credit Agency Staffers Form Korean Blockchain Rating Firm

Korea Blockchain Evaluation, a company that issues ratings on blockchain projects, began operations on Sept. 25, according to a report from the Cheongnyeon Ilbo and other local media.

The company believes that investors are harmed by the lack of information on blockchain projects and weak regulations.

According to the press reports, Korea Blockchain Valuation executives previously worked at Nice Credit Information Service, a Korean rating agency tracing its origins back to 1986.

A technology rating is issued, ranging from T1 to T10, with the lower number being better.

A business rating is also published, ranging from B1 to B10. From those, a final rating is arrived at, ranging from AAA to D. Ratings are maintained for two years.

Korea Blockchain Evaluation also considers in its ratings the competitive landscape, the competitiveness of the project being reviewed and the state of the market.

In addition to announcing its formation, the company also issued its first rating.

Korea Blockchain Evaluation gave the project a B4 business rating and a T5 technology rating.

The final rating was BB. In its review, Korea Blockchain Evaluation noted a number of positives.

Korean Blockchain evaluation hopes to expand into a number of areas, including fintech, education and energy.