Some regulators were recently concerned about the alleged lack of consistent and transparent data on crypto markets. The University of Cambridge is working together with some of the world’s top banking institutions and private firms to initiate a new project indicating cryptocurrency research. The Cambridge Center for Alternative Finance (CCAF) has begun an analysis endeavour trying to bring more pieces of knowledge to the quickly evolving digital asset industry.
Dubbed the Cambridge Digital Assets Programme, or CDAP, the project is a public-private collaboration with 16 companies including public institutions like the Bank for International Settlements Innovation Hub and the International Monetary Fund. The initiative also includes banks like Goldman Sachs, financial giants like Mastercard and Visa, as well as major exchange-traded fund providers like Invesco. The Cambridge Digital Assets Programme (CDAP), is a project with the collaboration of 16 companies. Its main mission is to enable evidence-based public dialogue about the chances and threats related to the thriving cryptocurrency adoption.
The policy will be concentrated on three major areas-
• Crypto’s environmental implications
• Infrastructure, and
• Digital assets (stablecoins, Central Bank Digital Currencies and, Cryptocurrencies)
As per the recent announcement, the program starts with the prevailing work of CCAF including the development of the Cambridge Bitcoin Electricity Consumption Index, (CBECI) CCAF executive director Bryan Zhang said that the program they are launching aims to meet the rising need for transparency by giving data-driven ideas through collective research. As per the previous report, some international regulators have been increasingly anxious about harms related to the absence of standardized and trusted data in the digital currency industry. In the middle of February, the Financial Stability Board instructed that the crypto market lacks constant and apparent data and its connections with the deep financial system, which presents a substantial risk amid the abrupt crypto adoption.
Have a look at this- Crypto mining should be re-imagined before just projecting it away
