BTCS, a digital asset and blockchain technology company, announced today it is expanding its business model with the development of a consumer-facing digital-asset data analytics platform.
The goal is to enable users to connect multiple digital asset exchanges and wallets to aggregate portfolio holdings into a single seamless platform to view and analyze performance, risk metrics, and potential tax implications. The initial beta launch of the platform is expected in the second half of 2020. BTCS began the development of its digital asset data analytics platform in mid-2019.
Platform Features
There are currently more than 250 digital asset exchanges globally and 27 in the US, the majority of which lack detailed performance metrics. Further complicating performance tracking for digital asset participants is the fact that many participants hold assets on multiple exchanges.
BTCS’s analytics platform is being designed and built to provide a solution to this growing problem, allowing users to aggregate data related to their holdings in near real-time in a single view combined with a robust suite of tools for performance tracking.
In addition to performance metrics and aggregation of digital asset holdings data derived from read-only API calls to connected exchanges or tied to blockchain wallet addresses, BTCS’s platform solution is being designed with a community focus that will allow users to share their trade history with other platform users. Community participants will be able to choose to provide their performance and trade data to other users for free or share on a user-selected subscription-fee basis. Longer-term plans include BTCS taking a percentage, yet-to-be-determined, of this fee.
“We believe the market has matured to a point that warrants and supports a more sophisticated method of tracking holdings and performance, and our platform is being designed to serve this unmet need. Our team has more than six-years of industry experience. We believe we have the necessary expertise and resources to complete development of the platform with minimal additional financial commitments while we continue to execute on other core business objectives.”
– Charles Allen, CEO of BTCS
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