Development of Atlas began more than five years ago, amid a series of chaotic collapses in the crypto industry. According to the developers, they have created a prototype of the ultimate “proof of concept” platform, which collects data from both public “on-chain” cryptographic ledgers and from more complex sources of “off-chain” data – about the transactions of some not very popular exchanges and private users.
“Central banks need to obtain first-hand information about cryptocurrencies and DeFi, and the risks and opportunities they pose to the financial system,” the BIS said.
The BIS Innovation Center and interested parties will have information that gives a general picture of the activity in the use of digital assets, despite the anonymity of the settings of many crypto wallets.
The Atlas prototype displays data on BIS’s “innovation hub dashboard,” displaying information about how many bitcoins are converted into US dollars at a certain time and in a certain part of the world.
Earlier, BIS, the central banks of France, Singapore and Switzerland reported on the successful completion of testing of cross-border trading operations and settlements in wholesale CBDC.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
