BIS economists take aim at crypto industry data
Central banks should consider blockchain stats ‘noisy approximations’ of actual economic activity
Bank for International Settlements researchers have called into question the crypto industry’s claims about digital assets’ capitalisation and transaction volumes.
In a paper published on September 15, the BIS’s Timothy Aerts, Jan Paulick and Violeta Vuletic, along with the Netherlands Bank’s Ronald Heijmans, write that “from a central bank perspective” blockchain data should be treated as “noisy approximations” rather than direct measures of economic activity.
The authors look at three types of
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