๐ 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.
๐ 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.
๐ 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.
๐ It is planned to incorporate more data sources and analyze information from nodes on the Ethereum network and DeFi protocols.
๐ฌ What do you think of this project? Do you think it will help improve transparency in the crypto world? Comment below!
๐ 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.
๐ 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.
๐ It is planned to incorporate more data sources and analyze information from nodes on the Ethereum network and DeFi protocols.
๐ฌ What do you think of this project? Do you think it will help improve transparency in the crypto world? Comment below!