Cambridge University launches crypto research project in partnership with IMF and BIS

The University of Cambridge is teaming up with some of the world's top banking institutions and private companies to launch a new project focused on cryptocurrency research.

Cambridge University’s Center for Alternative Finance (CCAF) announced to Cointelegraph on Monday that it has launched a research program aimed at bringing more insights to the fast-growing digital asset industry.

Dubbed the Cambridge Digital Assets Initiative (CDAP), the project is a public-private partnership with 16 companies, including public institutions such as the Bank for International Settlements (BIS) Innovation Center and the International Monetary Fund (IMF). The plan also includes banks such as Goldman Sachs, financial giants such as Mastercard and Visa, and major exchange-traded fund providers such as Invesco.

Other participants include British International Investment, DIFC, Ernst & Young, Fidelity, UK Department of Foreign, Commonwealth and Development Affairs, Inter-American Development Bank, London Stock Exchange Group, Morgan Stanley Capital International (MSCI) and the World Bank .

As part of its core mission, CDAP intends to initiate an evidence-based public dialogue on the opportunities and risks posed by the growing adoption of cryptocurrencies. The plan will focus on three main areas, including the environmental impact of cryptocurrencies, infrastructure and digital assets, including stablecoins, central bank digital currencies and cryptocurrencies.

According to the statement, the plan builds on CCAF’s existing work in the crypto industry, including the development of the Cambridge Bitcoin Electricity Consumption Index (CBECI). CBECI is a widely referenced index used to provide the distribution percentage of global Bitcoin mining computing power in each country.

Bitcoin mining map as of July 2021 Source: CCAF's CBECI

Other CCAF crypto research advances include the Global Cryptoasset Benchmark Study Series, designed to address ecosystem trends, inform regulatory and policy discussions, and more.

Bryan Zhang, Executive Director of CCAF, said: “The Cambridge Digital Assets Initiative, which we launched today, aims to address the resulting need for greater transparency by providing data-driven insights through collaborative research involving public and private sector stakeholders. "

Michel Rauchs, Head of Digital Assets at CCAF, said the CDAP will provide policymakers with the objective analysis and empirical evidence they need to navigate the digital asset industry.

As previously reported by Cointelegraph, some global regulators are increasingly concerned about the risks associated with the lack of standardized and trusted data for the cryptocurrency industry. In mid-February, the Financial Stability Board warned that the lack of consistent and transparent data on the crypto market and its connection to the core financial system poses a significant risk in the context of the rapid adoption of cryptocurrencies.

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