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Blockchain Company Makes Two Nobel Laureates Its Advisors

Published: 12/09/2018
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What is it for?

Cryptic Labs, a company that researches blockchain technologies and investments in business, hired two Nobel laureates for the positions of advisers at its team, Coindesk reports.

 

New employees are economists Dr. Eric Maskin and Sir Christopher Pissarides who will share their knowledge about incentive mechanisms and strategic theories with the Cryptic Labs team, and will also develop a macroeconomic policy for the company.

 

Dr. Maskin, the Harvard professor, received the Nobel Prize for the discovery of the theory of distribution mechanisms in 2007. With its help, the company will be able to find effective trade schemes and allocate resources correctly. Besides, the economist will give the team advice on game theory. Maskin specified that he is interested not in the technical side of blockchain but in its value for economy.

 

Sir Christopher Pissarides, an economist, in 2010 won the award for a study of macroeconomic markets, which explains the reasons for unemployment against the background of an excess of vacancies. His duties will include consulting of employees and clients taking into account the macroeconomic trends. The economist shared that he considers blockchain the most interesting recent innovation in the financial system.

 

In August, Prysm Group blockchain startup invited the Nobel Prize winner Oliver Hart to join their advisory board. The economist spoke positively about the technology and stated that crypto companies should be aware of the risks of possible economic difficulties.

 

Earlier, an economist and crypto sceptic Paul Krugman admitted that bitcoin can be useful.

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  1. henrypatel:
    09/12/18 at 07:32

    Well that's a nice improvement!
    These people are the pride of their country and definitely will help to improve the mechanisms of blockchain.