Cryptic Labs Hire Two Nobel Prize Laureate Economists

Blockchain research institute Cryptic Labs has taken on two Nobel Prize economic laureates for its economic advisory board in order to improve blockchain expertise in the company.

The roles of Dr Eric S Maskin and Sir Christopher Pissarides are cited in the Cryptic Labs press release as being dedicated to providing ”insights in incentive mechanisms, game theory and macroeconomic policies, bolstering the institute’s mission to address the lack of blockchain industry expertise in both fields”.

Dr Maskin has shared that he is particularly interested in investigating the economic value blockchain technology can bring, planning to bring his specialist background in economics and mechanism design to this particular task. Sir Pissarides has said that there is still a significant lack of information regarding the technology which is preventing a ”wholesale transition” of all transaction records on to blockchain and is dedicated to making this viable in the future.

As the number of educational institutions offering blockchain-related studies continues to grow, appointments such as these set a high standard for an industry that previously lacked much real academic expertise. Individuals entering the blockchain workforce such as these two Nobel Prize Laureates not only can improve the quality of research and progression of blockchain technology but demand mainstream institutions to, at the very least, take its impact seriously.

Cryptic Labs describes its mission as “solving fundamental security problems to advance the growth of blockchain technology“, and boasts winner of the 2015 Turing Award Dr Whitfield Diffie as its chief scientist.

Blockchain companies finding their place

As the industry streamlines, more blockchain companies are being recognized for their valuable contributions.

Blockchain-related companies featured frequently throughout LinkedIn’s top 50 US startups list; centralized cryptocurrency exchange Coinbase even managed to reach third place. Investment app featuring cryptocurrency options Robinhood landed in sixth, followed by international money transfer app Ripple at number seven.

With blockchain startups popping up further down the list also, the prevalence of the industry indicates the success and growth it experienced the past several years, and recognition from LinkedIn in this way will only benefit it further.

 

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