Cambridge University's Centre for Alternative Finance (CCAF) has launched a research initiative in collaboration with 16 leading banks called the Cambridge Digital Assets Programme (CDAP). According to a press release, the CCAF will work with public and private organizations to create the "empirical data, tools, and insights."
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Bryan Zhang, Executive Director at CCAF, said that the growing adoption of cryptocurrencies "increasingly blurs the lines between roles, responsibilities and applicable rules, stretching the boundaries of long-term institutional arrangements." Zhang added:
"The Cambridge Digital Assets Programme that we are launching today aims to meet the resulting need for greater clarity by providing data-driven insights through collaborative research involving public and private sector stakeholders."
The university says the research agenda will be centered around environmental implications, the evolving constellation of networks, and emergent money systems. In April 2019, PayPal joined a Series A investment in Cambridge Blockchain, a startup that is focusing on giving individuals a way to own their own online ID without the need of a third party.
A spokesperson for PayPal said the company invested because "it was applying blockchain for digital identity" in a way that it believes could benefit financial services.
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