Cryptic Labs has added two Nobel Laureates in Economics to lead its advisory board, boosting its efforts in blockchain technology.
Dr Eric S. Maskin and Sir Christopher Pissarides have been recruited by the research lab as additions to its Economics Advisory Board, utilising their expertise in incentive mechanisms, game theory and macro-economic policies for the blockchain industry.
Maskin said: “I think that blockchain technology is potentially important for a modern economy. Most discussions of blockchain technology focus on technical issues. I am more interested in the economic value such technology can bring.
“I believe that my background in economics and mechanism design should be useful for that purpose. Cryptic Labs is examining blockchain in interesting ways, and so I was glad to join the team.”
The Cryptic Labs team also includes cryptographer Dr Whitfield Diffie, who won the Turing Award in 2015.
“Blockchain is the most exciting development in financial markets in recent years, but we still don’t know enough about it to recommend a wholesale transition of all our transaction records to blockchain,” added Pissarides. “Cryptic Labs impressed me with their mission to improve the service offered by blockchain technology, as well as the diversity and expertise of their team.
“I look forward to working with the team at Cryptic Labs to to leverage my expertise in macroeconomics to help companies improve the use of blockchain, make it more secure and more widely accessible, and examine the implications that it has for trade, financial markets and economic performance.”