Crypto Data : From professionals to private investors
Cryptio x Blockchain Legal x Kaiko Meetup at Coinhouse
Conference summary
On 9th May 2018, La Maison du Bitcoin (Coinhouse) hosted a meetup about crypto assets data.
The aim of the meetup was to present the value of crypto asset related data and ways to optimize the use of it on both macro- and microeconomic levels. In other words, from the global analysis of public market data to the use of each crypto-investors private data.
First, Robert, VP of Technology at Kaiko, presented an overall analysis of the crypto assets pricing on exchanges.
Based on several examples, he pinpointed some weaknesses related to reliability of crypto market data, be it price data, volumes or market capitalization.
Indeed, order mechanisms implemented by exchanges can sometimes have very harmful consequences on investors — with huge price variation in mere moments. Moreover, exchanges faking volumes to show more liquidity than they have or unannounced model changes in price providers are other market weaknesses that can generate irrational market movements.
Kaiko (kaiko.com) is a company aiming at being the most reliable and accurate source of crypto asset market data. Kaiko is working with funds, traders, academia and startups to provide the basic commodity of understanding the markets: data.
Then, Antoine, cofounder at Cryptio, presented the value of crypto assets data consolidation for investors.
On one side, he exposed the different sort of crypto data (wallet data; transaction data; order data) and he noticed that the division of these datas is a major obstacle to their rational use.
Cryptio (cryptio.co) is a company which allows its users to maximize management of crypto assets portfolio. Cryptio allows its users to follows in real-time theirs portfolio and their historical consolidated in order to monitor their strategies and declare their profits to the tax administration.
Finally, Sandrine Lebeau director of Compliance at La Maison du Bitcoin, representing Alexandre, tax advisor at Blockchain Legal, presented the utility of crypto data in matters of tax law and the legal framework applicable to crypto data.
In matters of tax law, she highlighted the crypto data value to price the trades and to declare the capital gains. She underlined that crypto data could be relevant evidence during a tax audit.
In matters of data protection rights, she explained that transaction data could meet the definition of private data; hence, crypto data should benefit of the legal framework provided for in the General Data Protection Regulation EU law: transparency and consent from the user to use his personal data; right of access; right of rectification; right to delete; right of portability. She concluded by highlighting the potential economic value of crypto data, the monetization limitations and the role that blockchain technology may play in in ensuring a fair distribution of the value arising from by crypto data.
Blockchain Legal (blockchainlegal.fr) is the first French Law Firm dedicated to crypto assets and blockchain project. Blockchain Legal is able to handle and anticipate all legal and tax issues related to crypto assets and bigger blockchain projects.
