The alleged absence of transparent and reliable data about the crypto market has been a source of concern to some regulators in the space in recent times. Hence, a collaboration by the University of Cambridge with leading financial institutions in the world, as well as private companies, to launch a new project which will have cryptocurrency research as its target.
The research project was set up with the aim to deliver more insights into the fast-paced digital asset world was launched by the Cambridge Center for Alternative Finance (CCAF), as announced by the center via Cointelegraph.
Named the Cambridge Digital Assets Program (CDAP), the initiative is run as a public-private partnership with 16 firms which includes public establishments such as the Bank for International Settlements (BIS) Innovation Hub as well as the International Monetary Fund (IMF). Not missing in the collaboration are Goldman Sachs, Visa, Mastercard, and exchange-traded financial providers such as Invesco.
Other collaborators in the partnership are British International Investment; Ernst & Young; the United Kingdom’s Foreign, Commonwealth, and Development Office; Dubai International Financial Center; MSCI; Inter-American Development Bank; the World Bank; and London Stock Exchange Group.
The Cambridge Digital Assets Program (CDAP) has as its core mission the intent to enable public dialogues with regards to the risks and opportunities associated with the developing cryptocurrency adoption by an increasing number of people. The project is designed to be focused on the areas of the environmental impact of crypto, infrastructure usage, and digital assets that include stablecoins, cryptocurrencies as well as digital currencies from various central banks. All these are also designed to be evidence-based.
As the announcement went, the project is built on the Cambridge Center’s ongoing projects in the crypto sector which includes the development of the Cambridge Bitcoin Electricity Consumption Index (CBECI). The CBECI is widely referred to make available each country’s BTC mining hash rate percentage.
Earlier Projects in the Cambridge Bag
Another set of CCAF crypto research and development includes the Global Cryptoasset Benchmarking Study, which was designed to pay attention to ecosystem trends and to inform regulations and policy discussion, among others.
According to CCAF’s Executive Director, Bryan Zhang, he said that the Cambridge Digital Assets Programme being launched aims to meet the resultant needs for more clarity by giving data-driven perceptions through joint research that involves private and public sector stakeholders.
Michel Rauchs, the CCAF digital assets lead, said that the CDAP is going to make empirical evidence and objective analysis available to decision-makers for the purpose of navigating the digital assets sector.