Cryptic Labs Gets Two Nobel Prize Winners as Advisors for Economic Incentive Innovations
Cryptic Labs Adds Nobel Prize Winners as Advisors
The blockchain research firm Cryptic Labs has decided to add two Nobel prize winner economists as advisors to the project. The information has been released on Monday by Cryptic Labs in a press release. Dr. Eric S. Masking and Sir Christopher Pissarides will be providing insights in incentive mechanisms, game theory and more.
At the moment, Dr. Maskin is a professor at Harvard University and will be advising the company about game theory and mechanism design. Additionally, he will advise Cryptic Labs on how blockchain projects can develop user incentives.
Back in 2007, Maskin won the Nobel Prize in Economics. He did lay the foundation of mechanism design theory.
On the matter, he 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.”
Sir Pissarides will have a different work. He will be advising the company and clients using his knowledge of macroeconomics. He was awarded the 2010 Nobel Prize after his work on ‘analysis of markets with theory of search frictions.’
Cryptic Labs’ co-founder, Humphrey Polanen, said that the industry will be providing unparalleled expertise to the blockchain industry. This is quite important since an important number of experts is moving from the traditional financial world to the blockchain ecosystem.
This is not the first time that a Noble laureate joins the crypto world. In the past, Oliver Hart has been added as a senior advisor to the startup Prysm Group. However, this is the first time that two laureates are incorporated in this way to the crypto space.