The importance of transparency in general is unquestionable because it allows us to have control over the activities that we are involved in some way, a blockchain by itself already provides a transparency, but only blockchain is not enough, we need more.
To portray transparency in exchange market activities and the crypto currencies themselves, an organization known as the Blockchain Transparency Institute (BTI) was developed that brings the light of knowledge, information, data and real information about the movements of foreign exchange markets and crypto-coins, with a verification method that observes the activity of what is known as a 'wash trade' and offers an available clean API is intended to protect the investor from manipulating market information.
Not long ago a controversy with CoinMarketCap (CMC) related to the data provided was out of the reality of the market, it should always be said that the data reported by the CMC are actually provided directly by the exchange markets, but it is also correct to say that due to the service offered and the scope of their status in the community requires measures on the provision of data.
And now comes the great announcement of this publication:
In its 6th anniversary, among other topics, CMC announced the Alliance for Data Responsibility and Transparency that intends to solve the previously reported problem and provide more accurate information about the market that already has several foreign exchange markets and inserted cryptomedas and others are and those who are not readily in such an alliance may apply to the Alliance for Data Responsibility and Transparency.
In the Cripto Currencies universe, we are obligatorily linked to various outsourced activities, such as the foreign exchange market and monitoring valuation and currency devaluation, and it is necessary that the information we collect and observe is true to the reality of the market, and manipulation must be mitigated to the maximum, because the risk we face in making losses by taking decisions through incorrect information exacerbates the native risk of a market that has frequent oscillations.
Some of the foreign exchange markets are already aggregated in the CMC Data and Transparency Alliance Binance, Huobi, Gate.io, KuCoin
In the sense of transparency, both exchange and crypto-markets, as well as sources that provide information on market variations that give us confidence in their data and information are reliable, and this is only possible through transparency.
Transparency is so important in everyday life that governments have mobilized to be signatories of an Open Government Partnership (OGP), but that is another matter, and will not be portrayed in that publication.
