Cambridge University’s Centre for Alternative Finance (CCAF) has announced a collaboration with the International Monetary Fund (IMF), the Bank for International Settlements (BIS) and others to conduct crypto research.
The collaboration, dubbed the Cambridge Digital Assets Programme (CDAP), aims to bring further insight into the growing digital asset industry.
“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,” CCAF executive director Bryan Zhang said in a prepared statement.
New public-private digital assets research collaboration launches
Cambridge Digital Assets Programme #CDAP to create open-access data, tools & insights to facilitate balanced dialogue around digital asset activities.
Read more https://t.co/2Gmn0Gj72D
— Cambridge Centre for Alternative Finance CJBS (@CambridgeAltFin) March 1, 2022
Other participants in the collaboration include British International Investment, Ernst & Young, Fidelity and the World Bank. Banks including Goldman Sachs, and payment giants Mastercard and Visa also feature in the collaboration.
A total of 16 companies are involved.
“Industry collaboration and public-private partnerships will be vital in bringing the benefits of digital currencies to life in a sustainable, inclusive and secure way,” said Terry Angelos, SVP and Global Head of Fintech at Visa.
Cambridge and crypto
The Cambridge Digital Assets Programme builds on Cambridge University’s previous research into blockchain and cryptocurrency.
The CCAF’s Cambridge Bitcoin Electricity Consumption Index is a frequently cited source for the annual electricity consumption of Bitcoin, which by today’s figures stands at about 130 terawatt-hours per year.
The same department also released data that found the United States had become the world’s largest market for Bitcoin mining, following a mass exodus of miners from China following the Chinese government’s ban on crypto mining in 2021.
Other participants in the Cambridge-led collaboration have also been involved in the crypto industry in the past.
The Bank of International Settlements has previously raised a plethora of concerns regarding cryptocurrency; in December last year, it warned that the crypto industry—in particular decentralized finance (DeFi)—could threaten broader financial stability.
The bank has also previously said that Bitcoin has “few redeeming public interest attributes,” in a report that pointed to the flagship cryptocurrency’s energy consumption and role in money laundering.
https://decrypt.co/94080/cambridge-university-launch-crypto-research-project-with-imf-bis
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Source: https://decrypt.co/94080/cambridge-university-launch-crypto-research-project-with-imf-bis
