🧪 Prototype Developed: A central test lab has designed a prototype bitcoin tracking system.
🔍 Purpose: This system helps authorities understand how, when, and where bitcoin is used.
🏦 Bank for International Settlements: The project, named Atlas, began at the Dutch central bank.
📊 Data Collection: Atlas gathers data from both "on-chain" and "off-chain" sources.
⚠️ Accuracy: Although useful, the system might not always be precise due to anonymous crypto wallets.
📈 Initial Analysis: There are significant cross-border flows in the crypto world.
🖥️ Dashboards: BIS has designed dashboards that display how bitcoins are converted into other currencies.
🔁 Relevance: Cross-border transactions are important for central banks.
📚 Gaining Knowledge: It's crucial for central banks to learn more about crypto and DeFi.
🔧 Feedback: These dashboards are now being tested by various central banks for improvement and feedback.