Before Weiss Rated Cryptocurrencies, I have to admit that I hadn't heard of Weiss Ratings. I learned a week before they published their rating report, that they would publish it. Once, their Cryptocurrency rating report was published, I let it soak in a bit before writing this post.
Weiss Ratings is a conservative organization that prides itself on rating banks and savings and loan institutions. They have been doing it since 1987. They may be credible in this area, especially since they've been doing it for a long time. Their goal is safety and helping consumers trust where they put their money. Over the years, they have formed partnerships, with banks and loan institutions, whether they think so or not.
Weiss Ratings is not an innovative tech company nor is does it have a vision for all the disruptions that are occurring as a result of all the advances in blockchain technologies. We are moving currently at lightning speed. This organization's ratings should not carry much weight. They are focused primarily on taking the safe road. Also, all of the past institutions they have rated, up until this point, have been organizations that centralize their transactions.
What I'd like to see from them are a detailed analysis on each of the Cryptocurrencies they have rated and their reasoning. Their ratings don't mean anything to me, at least. I think this report hurts Weiss Ratings more than it helps them because they haven't proven anything, not only the average person but not to technologists who understand the blockchain and how these new platforms are being implemented.
Do you believe Weiss Ratings gained credibility or lost it when they published their ratings for cryptocurrencies?