Russia is developing a new standard for assessing confidence of companies, which use ICO. The idea of the document belongs to Russian Association of Blockchain and Cryptocurrency, its director Arseniy Scheltsin believes that such a standard will help investors to avoid unfair ICOs. He also noticed, that ICO’s market is full of swindlers, which manipulate with ratings thus an investor cannot decide exactly, whether to cooperate with the company or not.
The standard will help to appraise companies and their ICOs according to rating points. It is expected that in the future the document will be valid not only for Russia but for other countries too. For that purpose the Association enters into a contract with 30 companies from over the world. The content of the standard will be coordinated with the international community.
Representatives of the Association noticed that this branch is not controlled yet by government and laws. The paper will be a real breakthrough in the issue of ICO’s superintendency.