Oct 29 / 2018
Latest News / Blockchain news
katy micallef
Posted by: Katy Micallef

DIA launches crowd-sourcing platform for financial data

DIA has privately launched its open sourced, crowd-validated platform for financial data. The platform serves as a Wikipedia style tool for financial information. Central to the platform’s ethos is transparency – the tool aims to address issues with reliability and accuracy in the digital asset market as well as circumvent the cost of accessing traditional financial market data.

Reliable and accurate financial data without the cost

The platform from the Swiss non-profit tackles a need for data from entities like financial institutions, content portals or research organisations with a community of developers and analysts, and leverages transparent crowd sourcing and validation – a mechanism that incentivises the provision of high-quality market data.

Traditional players such as Bloomberg or Thompson Reuters currently rely heavily on centralised data sourcing and validation that are often provided at a steep cost ($25,000 annual cost for one Bloomberg terminal) or inferior quality as could be observed repeatedly over the past months with market incumbents.

Open market and crowd-sourced data validation

DIA addresses this issue by employing a combination of token incentives, crowd-sourced data validation and game-theory based mechanics. DIA’s validation mechanics identify deliberate manipulation and inaccurate information, thereby creating a high-level of accuracy and community involvement that is difficult to provide by any single central entity. Providing a clear and dependable overview of the digital asset market that the ecosystem is currently lacking will help safeguard consumers and nurture a foundation for the development of a business-friendly blockchain and digital asset ecosystem.

The DIA platform will be showcased at Malta Blockchain Summit

DIA will showcase its platform for the first time on November 1-2 at the Malta Blockchain Summit – a cornerstone event in the Blockchain community. To further improve and strengthen the Maltese ecosystem and business environment, DIA will provide free and unlimited data access to all VFA service providers licensed under the VFA Act in Malta as of Q1 of 2019.

DIA is a Swiss non-profit association with offices in Zug and Berlin, that provides transparent, accurate and crowd-validated data on crypto asset and other financial markets

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