Cryptic Labs, a commercial blockchain research lab has declared the addition of two Economics Nobel Prize winners to its group. Sir Christopher Pissarides and Dr. Eric S. Maskin who will give their remarkable bits of knowledge on incentive mechanisms, game theory and full-scale financial approaches to its Economics Advisory Board.
New roles And Research portfolios:
Dr. Maskin, Professor at Harvard University jointly won the 2007 Nobel Prize in Economics for establishing the foundation of mechanism design hypothesis. His work at Cryptic Labs will aim game theory and mechanism design, with an emphasis on how blockchain organizations can control client incentives at an organization level.
Dr. Pissarides is a Professor of Economics at the London School of Economics where he specializes in the financial matters of labor markets, macroeconomic policy, economic development, and structural change. In 2010 he was granted the Nobel Prize in Economics for his analysis of markets with search frictions.
The two Nobel Laureates join a group at Cryptic Labs which includes Chief Scientist Dr. Whitfield Diffie, winner of the 2015 Turing Award. The trio was recruited by Herman Collins, a globally recognised executive search who also leads the Cryptic Labs’ Human Capital Advisory initiative.
Co-founder and Managing Director of Cryptic Labs, Humphrey Polanen, expressed delight at the recruitment coup, stating that “These experts and other economics advisors will help our client companies navigate complex problems, advising them on blockchain economics and helping them craft the incentive systems they need to ensure adoption and growth.”
In his response, Dr. Pissarides depicted blockchain technology as “the most exciting development in financial markets in recent years,” yet one that has not been explored as to recommend a wholesale financial change to blockchain.
On his part, Dr. Maskin expressed that he looks forward to exploring blockchain technology from an economic as against technical perspective.
He further said that “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.”