Cambridge University is partnering with the world’s best banking experts and companies in the private sector to do research on cryptocurrency and its viability. This research is intended to offer better insights into the growing digital assets industry, a spokesman from Cambridge said.
Scope of the Cambridge Project
Called the Cambridge Digital Assets Program, this venture is a public and private venture. Many public institutions from the banking industry and 16 companies are working on creating more awareness on crypto opportunities. This group will also look at the risks and rewards related to the growth of the crypto industry and adoption across the world. Work will also focus on the environmental impact of crypto mining, available infrastructure, digital currencies and assets available. It will also look at the creation of central bank digital currencies by many countries.
Some work on this industry and its implications has already been done by Cambridge and more will be added. There is an intent to develop an index to figure out how much energy is being used by crypto miners. The project is titled “Cambridge Bitcoin Electricity Consumption Index” and it will set out details on energy consumption by country. Work on ecosystem trend, regulation discussions and policies will be addressed.
According to Michel Rauchs, lead for the digital assets team at CCAF will offer high level decision makers the information and analysis they need to navigate the digital asset industry. The Financial Stability Board made a statement in February about its concerns on the crypto market and its rapid adoption.