Is $1 Million Bitcoin In 2020 Crazy? Plus, Morningstar’s Blockchain Play
Morningstar made its name rating mutual funds from the likes of Fidelity and Putnam. Now it’s primed to make a big impact in blockchain by becoming the largest credit ratings agency with a number of custom crypto services. It’s working on two efforts designed to change the way debt securities—a $117 trillion industry— are rated.
The first will put Morningstar’s system for rating bonds directly on the Ethereum blockchain, so a bond rating could be used as a term in a smart contract, and the second will put the company’s internal rating models on a blockchain so investors could use it to test the quality of an investment on their own.