The Cambridge Center for Alternative Finance, together with leading banks, as well as public and private organizations, will launch a project to explore digital assets.
The project is called the Cambridge Digital Asset Program (CDAP). The participants in the research initiative are the Innovation Center of the Bank for International Settlements (BIS) and the International Monetary Fund (IMF), the American investment bank Goldman Sachs, payment operators Visa and Mastercard, and asset management company Invesco.
Other participants included British International Investment and Fidelity, Dubai International Financial Center (DIFC), Ernst & Young consulting company, UK Department for Foreign Affairs and International Development, Inter-American Development Bank (IADB), London Stock Exchange, financial company MSCI and the World Bank.
The main objective of the CDAP research project is to start engaging with the public, based on existing knowledge about cryptocurrencies, telling people about the opportunities of digital assets and the risks associated with their growing adoption. The program will include three main segments: the impact of cryptocurrencies on the environment; blockchain infrastructure and digital assets, including stablecoins; central bank digital currencies and conventional cryptocurrencies.
The program of the Cambridge Center for Alternative Finance (CCAF) will use data from the Cambridge Bitcoin Electricity Consumption Index (CBECI), which shows the percentage distribution of the hashrate of the Bitcoin network between countries. Other CCAF developments include benchmarking research on crypto assets, exploring trends in the crypto ecosystem and possible options for regulating them.
“The Cambridge Digital Assets Program will allow the public and private sectors, and indeed any interested parties, to learn more about cryptocurrencies. We will share our own research in this area and hope that this will bring clarity to the understanding of cryptocurrencies,” said CCAF Executive Director Bryan Zhang.
According to last year’s data from CCAF researchers, the share of electricity from renewable sources in bitcoin mining will increase. Therefore, every year bitcoin mining will be more environmentally friendly.
Source: Bits
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