While the overall goal of token market standardization is clear, project motivation and sub-goals are diverse:
So far tokens and exchanges chose ticker symbols deliberately. As a result the same token might trade under different ticker symbols on different exchanges or different tokens might be even listed under the same symbol. For instance, Bitcoin can either be found under the symbol XBT, BTC or BTX. This is not only confusing and but also represents a risk for investors and other market players.
With the International Token Identification Number (ITIN) ITSA is developing and implementing an open market standard for the safe and secure identification of cryptographic tokens. Its large implementation will drastically increase transparency and reduce operational risks.
The International Token Classification (ITC) is a framework for classifying cryptographic tokens according to various different dimensions (see below for the first 4 dimension). It is already applied to the top 800+ tokens and will be continuously updated and extended through the classification of more tokens as well as the addition of further dimensions and classes.
Currently the ITC includes four dimensions (version 1.0), covering economic, technological and legal aspects.
With the ITC framework ITSA aims at creating a holistic standard for the classification of tokens in order to support regulators, investors, researchers and entrepreneurs in navigating the global token economy. Each ITC dimension includes highly detailed classes, which can be broken down even further in the future.
Sample snapshot of the current ITC framework dimensions and their respective classes:
The ITC framework provides detailed definitions for the individual classes of each dimension:
ITC Classification Example: Bitcoin (BTC)
TOKENBASE builds upon the International Token Classification (ITC) and the International Token Identification Number (ITIN). It provides extensive time-series data for the analysis of the top 800+ cryptographic tokens already identified through an ITIN and classified in the ITC. Like the ITC, it is continuously extended and updated. The dataset includes amongst others daily prices, trading volumes or information on the market capitalization of each token and is based on data from more than 30 exchanges. Moreover, it contains information on social media presences of each token as well as its codebase (e.g. through Github).