WASHINGTON, Oct. 21, 2020 /PRNewswire/ — The Reinventing Bretton Woods Committee (RBWC) recently hosted the first of its IMF/World Bank Fall Meetings – “The Economics of Pandemics: The Role of Data”. Thousand Cities Strategic Algorithms (TCSA) was invited as a panelist and distinguished expert in the field of sovereign currency technologies.
The weeklong IMF/World Bank Fall Meetings were attended by global central bank authorities, such as the Head of Statistics at the Bank of International Settlements, as well as central bank governors and representatives from Japan, Canada, Singapore, Spain, Czech Republic, Armenia, South Africa, Brazil, Mexico, and Peru. Attendees discussed the increasing importance of data-driven policymaking after the pandemic and shared their visions for building economic resilience through financial and technological innovations.
In the face of the universal economic challenges shared by these global authorities, Mr. Adkins Zheng, the Chief Algorithm Officer of TCSA, put forward an innovative macroeconomic theory and data technology solution to global economic challenges.
To fight increasing chaos and build a global economic framework capable of sustainable, endogenous growth, the TCSA research team has achieved two significant and fundamental breakthroughs in the pursuit of a national “economic data brain” for global policymakers:
First, TCSA developed a fully digitizable and algorithmic macroeconomic framework capable of synchronizing and integrating national economic, fiscal data, and monetary/financial data systems. This framework innovates upon existing international statistical standards like the “SNA, GFS, and MFSMCG.”
Second, TCSA has overcome the technological bottleneck of computing extreme quantities of granular, national-scale data sets. Many countries have proposed the concept of a national “economic data brain” but cannot overcome the shortage of processing power and capital investment costs. TCSA’s data system has created a simpler algorithmic structure that forms the basis of a highly efficient, logic-oriented, and cost-effective next generation data network.
Reportedly, TCSA’s Global Affairs department has established English, Russian, Spanish and Arabic multi-lingual task forces to provide breakthrough consulting services to various economic entities.