🔥 Poll: Can BTC Break Its ATH This Week?
ATH Recap: Bitcoin hit its ATH of $109,702.5 on Jan 20, 2025, followed by a consolidation phase.
Recent Trends: With easing geopolitical tensions, sustained institutional inflows, and improving market sentiment, BTC has shown strong upward momentum.
This Week’s Key Question: The market looks bullish, but the ATH remains a major resistance level.
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BIS and the Federal Reserve Bank of New York tested smart contracts
BIS and the Federal Reserve Bank of New York tested smart contracts for monetary policy
The Bank for International Settlements (BIS) and the Innovation Center of the Federal Reserve Bank of New York tested tools on smart contracts for managing monetary policy in tokenized systems. This is stated in the BIS report.
The experiment was conducted as part of the Pine project, using the ERC-20 standard and an access control system.
In hypothetical scenarios, central banks changed collateral criteria in 10 minutes, adjusted reserve interest rates, and created new instruments.
According to BIS, smart contracts provided critical "flexibility and speed" for crisis response.
According to them, this is the first step towards integrating blockchain into traditional central bank systems.
Tokenization of assets can translate monetary policy into real-time mode, however, this requires restructuring of technological processes, BIS warned.
According to the authors of the report, the experiment confirmed the possibility of automating key functions of the central bank using smart contracts — from liquidity management to market stabilization.
Recall that in May, BIS calculated the turnover of cryptocurrencies in global trade flows. At its peak in 2021, Bitcoin, Ethereum, USDT, and USDC accounted for $2.8 trillion or 12%.