The University of Cambridge’s Cambridge Center for Alternative Finance (CCAF) has launched a research initiative aiming to bring more insights into the rapidly growing digital asset industry.
It has been reported that named the Cambridge Digital Assets Programme (CDAP), the project is a public-private collaboration with 16 companies including public institutions like the Bank for International Settlements Innovation Hub and the International Monetary Fund. The initiative also includes banks like Goldman Sachs, financial giants like Mastercard and Visa, as well as major exchange-traded fund providers like Invesco.
However, other participants include British International Investment, Dubai International Financial Center, Ernst & Young, Fidelity, the United Kingdom's Foreign, Commonwealth, and Development Office, Inter-American Development Bank, London Stock Exchange Group, MSCI, and the World Bank.
The report said that as its core mission, the CDAP intends to enable evidence-based public dialogue about the opportunities and risks associated with the growing cryptocurrency adoption. The program will be focused on three main areas including crypto’s environmental implications, infrastructure, and digital assets, including stablecoins, central bank digital currencies, as well as for cryptocurrencies.
Likewise, the program builds on the CCAF’s existing work in the crypto industry including the development of the Cambridge Bitcoin Electricity Consumption Index, CBECI. The CBECI is a widely-referred index to provide the global Bitcoin (BTC) mining hash rate distribution percentage among countries. Other CCAF’s crypto research developments include the Global Cryptoasset Benchmarking Study series, designed to address ecosystem trends, inform regulation and policy discussion, and others.
Bryan Zhang, the 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.”
Moreover, according to CCAF digital assets lead Michel Rauchs, the CDAP will provide decision-makers with the objective analysis and empirical evidence that they need to navigate the digital assets industry.
As previously reported, some global regulators have been increasingly concerned about risks associated with the lack of standardized and trusted data in the cryptocurrency industry.
Thus, in mid-February, the Financial Stability Board warned that the crypto market lacks consistent and transparent data and its linkages with the core financial system, which poses a significant risk amid the rapid crypto adoption.