🚀 Attention crypto enthusiasts! The Bank for International Settlements (BIS) has developed a prototype to track on-chain and off-chain transactions on cryptocurrency exchanges and public blockchains, including Bitcoin. This project, called Project Atlas, seeks to evaluate the macroeconomic relevance of cryptocurrency markets and decentralized finance (DeFi) protocols.
🔍 Project Atlas combines off-chain data from cryptocurrency exchanges with on-chain data collected by nodes. The first test tracked cryptocurrency flows in different geographic locations.
🌍 The project shows chain transfers on the Bitcoin network and transactions between exchanges. Furthermore, it will provide an overview of cross-border flows and allow central banks to assess the economic importance of the crypto ecosystem in different jurisdictions.
🔜 It is planned to incorporate more data sources and analyze information from nodes on the Ethereum network and DeFi protocols.
💬 What do you think of this project? Do you think it will help improve transparency in the crypto world? Comment below!
🔍 Project Atlas combines off-chain data from cryptocurrency exchanges with on-chain data collected by nodes. The first test tracked cryptocurrency flows in different geographic locations.
🌍 The project shows chain transfers on the Bitcoin network and transactions between exchanges. Furthermore, it will provide an overview of cross-border flows and allow central banks to assess the economic importance of the crypto ecosystem in different jurisdictions.
🔜 It is planned to incorporate more data sources and analyze information from nodes on the Ethereum network and DeFi protocols.
💬 What do you think of this project? Do you think it will help improve transparency in the crypto world? Comment below!