Cambridge University is working on a new report
The prestigious University of Cambridge will begin a large-scale study to assess the use and impact of cryptocurrencies in all their facets, according to exclusive information from our colleagues at Cointelegraph.
the Cambridge Center of Alternative Finance (CCAF), a branch of the university specializing in the study of financial channels and instruments parallel to the traditional system, will conduct this research alongside many big names in international finance. The project will be called Cambridge Digital Assets Program (CDAP).
Among these partners, we find in particular the International Monetary Fund (IMF) and the Bank for International Settlements (BIS), recognized as “the central bank of central banks”. Other giants of the banking system will also participate, such as the New York investment bank Goldman Sachs, the payment companies Visa and Mastercard and the asset management company Invesco.
Then come other public bodies, such as the world bank (BM), the CDC Group, the Foreign and Commonwealth Office (FCO), but also the London Stock Exchange Group, owner of the London Stock Exchange.
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The axes of the project
Enrolling in follow-up to the previous report drawn up in 2017 by the university under the name of “Global Cryptocurrency Benchmarking Study”, this new study will also be based on the Cambridge Bitcoin Electricity Consumption Index (CBECI). This is a tool that hypothetically analyzes the energy needed to operate the Bitcoin network, which works with Proof-of-Work (PoW) consensus.
Originally published in 2019, this index has established itself as a reference in studies relating to the energy impact of Bitcoin mining and hashrate.
Building on many strong partnerships, the new report is expected to focus on analyzing the opportunities and risks associated with the growing adoption of cryptocurrenciesincluding the environmental repercussions of the latter as well as the impact of stablecoins and central bank digital currencies (MNBC).
According to Bryan Zhangthe managing director of CCAF, this analysis stems from a growing demand for hard data on cryptocurrencies:
“The Cambridge Digital Assets Program we are launching today aims to meet the need for clarity [sur les cryptomonnaies] providing data-driven insights through collaborative research involving public and private sector stakeholders. »
Still with this in mind, the CDAP provide managers with objective analysis and the empirical evidence they need to navigate the digital asset industry, ” according to Michael Rauchsthe head of CCAF’s digital assets branch.
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Source: Cointelegraph