In March, the CPR, Public Registry of Cryptocurrencies and ICOs (initial coin offering) will be launched. The initiative was presented by an NGO, registered in Delawere, United States the Cryptocurrencies Public Register Institute, which considered necessary to create a public service that would offer added value to the cryptocurrencies sector and at the same time strengthen institutional guarantees.
On this platform, the description of each cryptocurrency – its “white paper” – as well as any possible offers an and all ICO documentation. The price for registering a cryptocurrency will be just 0.99 American dollars per year. The idea of this NGO is to allow for better organization of the cryptocurrency world. Its operation could compare with the ICANN corporation that controls the availability of dominions on internet.
In this case, when someone decides to register a new cryptocurrency, the platform will notify them whether this name is available, just like what happens with ICANN. The registration date on the platform will signal the time of the cryptocurrency’s foundation. Therefore, it will now be impossible for two contemporary cryptocurrency projects to exist with the same name.
In a scenario where the expansion of the cryptocurrencies is foreseeable, the Cryptocurrencies Public Register Institute will turn into an essential tool. Up to now, only a few private businesses are listing cryptocurrencies, but with their own criteria; meanwhile, the Register’s platform will operate with public and more transparent criteria.