Central banks are collaborating to create a data platform called Project Atlas, which aims to provide insight into the macroeconomic significance of crypto-asset markets and decentralized finance (DeFi). The project, led by the Bank for International Settlements (BIS) and its partner central banks within the Eurosystem, combines on- and off-chain information to develop a layered approach to data vetting and tailored statistics. The initial proof of concept focuses on international flows of crypto-assets. Currently, data on the industry are widely available but dispersed, unregulated, and lacking standardization. Project Atlas aims to improve data collection methodology and platform development in this regard. By using transactions between crypto exchanges and their geographical location as a proxy for cross-border capital flows, the project visualizes derived bilateral flows on a globe to showcase economic significance. This collaborative effort is considered an exemplary achievement of the BIS Innovation Hub, as it combines economics, finance, and computer engineering to provide central banks globally with a new and important public good. The data collected by Project Atlas are particularly relevant for areas like payments and macroeconomic analysis. For more information, please refer to the original source.
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