Globally renowned Cambridge University is now collaborating with one of the world’s most reputable financial institutions and private firms to launch a new cryptocurrency research initiative.
The Cambridge Center for Alternative Finance, or CCAF, disclosed to local media on Monday that it has begun a research program aimed at providing further understanding into the fast-increasing cryptocurrency business. Furthermore, the Cambridge Digital Assets Programme, or CDAP, is a public-private partnership involving 16 organizations, including the BIS Innovation Hub and the IMF. Also, big exchange-traded providers of capital like Invesco, financial behemoths like Mastercard and Visa, and banks like Goldman Sachs are also part of the program.
Bryan Zhang, Cambridge University’s executive director of CCAF said,
“The Cambridge Digital Assets Programme that we are launching today aims to meet the resulting need for greater clarity by providing data-driven insights through collaborative research involving public and private sector stakeholders.”
It was also reported that the British International Investment, Dubai International Financial Center, Ernst & Young, Fidelity, the Foreign, Commonwealth, and Development Office of the United Kingdom, Inter-American Development Bank, London Stock Exchange Group, MSCI, and the World Bank are among the other participants.
The CDAP’s main objective is to foster evidence-based open interaction about the benefits and hazards of cryptocurrency acceptance. The initiative will emphasize three primary areas: the environmental consequences of cryptocurrency, infrastructure, and digital assets, such as stablecoins, central bank digital currencies (CBDCs), and cryptocurrencies.
Cambridge University’s CCAF’s prior work lays base for this initiative
The program builds on the CCAF’s previous establishments in the crypto business, such as the creation of the Cambridge Bitcoin Electricity Consumption Index (CBECI), according to the statement. The CBECI is a frequently used indicator that shows the worldwide spread of Bitcoin (BTC) mining hash rates across countries.
The Global Cryptoasset Benchmarking Study collection, aiming to tackle ecological trends, educate regulation and policy discussion, as well as others, is also another CCAF crypto research initiative.
Michel Rauchs, the CCAF’s digital assets lead, believes that the CDAP will equip decision-makers with unbiased analysis and quantitative facts to help them manage the digital assets business.