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Cambridge University joins IMF and BIS in crypto research

Recently, some regulators expressed worry about the purported lack of regular and open data on cryptocurrency marketplaces.

The University of Cambridge is launching a new project aimed towards cryptocurrency research in collaboration with some of the world’s top banking institutions and private enterprises.

The Cambridge Center for Alternative Finance, or CCAF, stated on Monday that it has established a research effort aimed at providing further insights into the fast increasing digital asset business.

The Cambridge Digital Assets Programme, or CDAP, is a public-private partnership involving 16 organisations, including the Bank for International Settlements Innovation Hub and the International Monetary Fund. Banks like Goldman Sachs, financial behemoths like Mastercard and Visa, and big exchange-traded fund providers like Invesco are also part of the programme.

British International Investment, Dubai International Financial Center, Ernst & Young, Fidelity, the Foreign, Commonwealth and Development Office of the United Kingdom, Inter-American Development Bank, London Stock Exchange Group, MSCI, and the World Bank are among the other participants.

The CDAP’s main goal is to promote evidence-based public discussion about the benefits and hazards of cryptocurrency adoption. The programme will focus on three primary areas: the environmental consequences of crypto, infrastructure, and digital assets, such as stablecoins, central bank digital currencies, and cryptocurrencies.

The programme builds on the CCAF’s previous work in the crypto business, including the creation of the Cambridge Bitcoin Electricity Consumption Index, or CBECI, according to the statement. The CBECI is a frequently used indicator that shows the global distribution of Bitcoin (BTC) mining hash rates by country.

The Global Cryptoasset Benchmarking Study series, aiming to address ecosystem trends, inform regulation and policy discussion, and others, is another CCAF crypto research initiative.

“The Cambridge Digital Assets Programme, which we are starting today, aims to address this demand for more clarity by providing data-driven insights through collaborative research engaging public and commercial sector partners,” said CCAF executive director Bryan Zhang.

According to Michel Rauchs, the CCAF’s digital assets lead, the CDAP will equip decision-makers with objective analysis and empirical facts to help them navigate the digital assets business.

Some global regulators have become more concerned about the hazards linked with the cryptocurrency industry’s lack of standardised and trustworthy data. The Financial Stability Board warned in mid-February that the crypto market lacked consistent and transparent data, as well as its links to the core financial system, posing a substantial danger in the midst of rising crypto adoption.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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