Alternative financial solutions are gaining more popularity in recent months, as both consumers and investors are looking for ways to bypass traditional finance altogether. CME Group Foundation has announced they will make a financial contribution to the Cambridge Centre for Alternative Finance to spur future innovation in this sector. Both crowdfunding and peer-to-peer lending seem to be of great value to CME Group Foundation.
CME Eyes Alternative Financial Solutions
Creating a wide variety of education initiatives in the financial sectors will be of great value to establishing alternative financial services. Not only will there need to be a lot of guidance on the end of startups and entrepreneurs, but consumers will need to be informed of the benefits of these alternative financial solutions as well.
The US$1m grant from CME Group Foundation will be distributed over the course of five years, and it is the largest financial contribution made by the group outside of the United States. By targeting the University of Cambridge in the United Kingdom, boosting innovation in the alternative financial industry will gain a more European appeal as well.
The Chairman of CME Group Foundation Jim Oliff stated:
“The Foundation has a long track record of supporting academic institutions on innovations close to the futures and derivatives industry. This partnership will strengthen the research framework around the alternative finance sector and enable further collaboration between academics, policy makers, regulators and industry participants.”
What makes this announcement even more impressive is how the Cambridge Center for Alternative Finance [CCAF] will diversify their attention across five regions around the world. Furthermore, the Centre will organize a yearly recurring finance conference, which acts as a platform, to promote research results and discuss opportunities for future innovation.
There is no denying the financial sector as we know are undergoing vast changes. Some financial experts might see this as a transition whereas things are effectively changing on a structural level. Coming up with alternative financial solutions is a difficult task, but the grant provided by CME is a clear vote of confidence for the efforts by the CCAF.
Cambridge Shows Growing Interest in Bitcoin
At the time of publication, it remained unclear as to whether or not the Bitcoin option would be explored by the CCAF. What we do know is that there seems to be a growing interest in digital currency in the Cambridge area, as the local Meetup group has over 300 members right now. Even though there is no Bitcoin ATM available yet, things might be about to change sooner rather than later.
One company seems to be actively trying to spread the word on Bitcoin and digital currency in Cambridge, and that is HelioPay. Not only does this company provide businesses and entrepreneurs with the necessary hardware to accept digital currency payments, but they are also offering staff training.
What are your thoughts on CME Group Foundation funding alternative finance research? Let us know in the comments below!
Source: PR Newswire
Images courtesy of CME Group Finance, CCAF, Shutterstock