April 26, 2018
Coinswipe, “Tinder” for scoring ICOs, and DeHedge, the world’s first decentralized risk-hedging platform for cryptocurrency, today announced a strategic partnership to complete the development of the Committee on Uniform Token Identification Procedures, CUTIP, a standardized identification nomenclature for blockchain tokens similar to S&P (NYSE: SPGI) numbers for publicly traded securities.
“Unlike tickers used in securities markets, which are unique to each issuer, the same Ethereum ticker symbol can be used across multiple distinct contracts and tokens,” according to Coinswipe CEO Sarah Tulin.“If large sophisticated organizations like Overstock.com (Nasdaq: OSTK)), which (BTC) and Bitcoin Cash (BCH) earlier this year, are vulnerable to the risk of misidentifying cryptocurrencies, it’s something worth fixing for retail purchasers and the entire crypto community.”
Coinswipe developed the first iteration of CUTIP Token ID at the early this year, winning over 8,000 Oracles Network (POA) tokens for the novelty and relevance of the project.The stated goal was to provide an easy solution to a problem that impacts both retail purchasers of cryptocurrency tokens and institutions.
Coinswipe and DeHedge share the vision that everything will ultimately be tokenized on a distributed ledger, similar to blockchain.Despite the massive opportunities tokenization represents, a number of risks are created, some of which can be reduced with standard disclosures and nomenclature.
DeHedge founder and CEO Mikhail Chernov commented “CUSIP, the national numbering agency (NNA) for securities in the US, provides identification for millions of instruments, but does so based on a centralized authority controlled by the American Bankers Association and S&P.This monopoly on information, along with the associated costs, has created issues both in the US and, particularly, in the EU.The CUTIP Token ID initiative will give all the benefits of a standard number system for tokens but using a decentralized autonomous organization managed on the blockchain by constituents.”
To learn more about CUTIP Token ID or join the initiative, please visit facebook.com/Coinswipe
Coinswipe is like Tinder for Scoring ICOs.Swipe left to rate up and left to downgrade.Coinswipers with useful ratings and submissions unlock blockchain token rewards via a Decentralized Autonomous Rating Team (DART) contract that compares their ratings to directional outcomes of the token attribute they swipe.Coinswipe aims to build the world’s largest, and most efficient, decentralized token rating network.
DeHedge is the decentralized risk-hedging platform for cryptocurrency investors. DeHedge hedges investments in ICOs and cryptocurrencies, safeguarding investors in case of exchange rate fluctuations, scams, and project cancellations. Automatic pay out DeHedge’s smart contracts are programmed to automatically pay out in full in case of a hedged event. DeHedge uses Ethereum, which is a public blockchain
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