University of Cambridge has collaborated with some of the world’s top banking institutions and private firms to present a new project targeting cryptocurrency research.
The United Kingdom-based University of Cambridge has collaborated with some of the world’s top banking institutions and private firms to present a new project targeting cryptocurrency research. In this process, Cambridge Center for Alternative Finance (CCAF) has taken the initiative to bring more insights on the rapidly growing digital asset industry.
CDAP with an aim to enable evidence-based public dialogue about the possibilities and risks associated with the growing cryptocurrency adoption. Moreover, programme 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.
According to the university statement, Cambridge Digital Assets Programme (CDAP) is a public-private collaboration with 16 companies including public institutions like the Bank for International Settlements(BIS), Innovation Hub and the International Monetary Fund(IMF). Moreover, this initiative will be included banks like Goldman Sachs, financial giants like Mastercard and Visa, as well as major exchange-traded fund providers like Invesco.
In addition, 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 has also participated in this initiative.
As per the announcement, programme will build on the CCAF’s (Cambridge research for alternative finance) 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 deliver the global Bitcoin (BTC) mining hash rate distribution percent among nations.
“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,” Cointelegraph quoted CCAF executive director Bryan Zhang.
As per the CCAF digital assets lead Michel Rauchs, the CDAP will equip decision-makers with the objective analysis and empirical proof that they require to navigate the digital assets industry.
The global crypto market cap increased by a massive 10.45 per cent at $1.92 trillion. The crypto trading volume too surged by 25.30 per cent at $110.47 billion, at 1.50 pm as per Coinmarketcap data. Moreover, price of mainstream coins such as Bitcoin(BTC), Ethereum (ETH) rose 10 per cent in the last 24 hours.