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Cryptic Labs

When it comes to blockchain innovations, you can never have enough great ideas. According to a press release from Cryptic Labs, a research lab focused on blockchain technology, they got new and experienced additions to their team. The lab has appointed two Noble Prize economics laureates to its Economics Advisory board on Monday, September 10th. Dr. Eric S. Maskin and Sir Christopher Pissarides are joining the Cryptic Labs team.

Cryptic Labs are expanding their Economics Advisory board

Without a doubt, these two exciting additions to Cryptic Labs will provide great economic insight and experience. Cryptic Labs say their mission is to solve fundamental security problems and advance the growth of blockchain technology. According to the press release, the two new additions will add valuable expertise in micro and macroeconomics. That along with some added knowledge in other fields will help with blockchain development potential and the inner state of knowledge in the Economics Advisory board.

The release also states that the recruits will offer a deep insight in incentive mechanisms, macro-economic policy, game theory and will bolster the institute’s mission to fill the gap of blockchain industry expertise. The lack of both experience and expertise is currently a huge issue in the field.

Dr. Whitfield Diffie, who is already active on the Cryptic Labs team, became famous in the cryptography circles after winning the Turing Award back in 2015. When he was appointed, he remained neutral on blockchain’s future outlook and noted:

Blockchain is the easily the most exciting development in the financial markets. However, we still don’t know enough to recommend a full transition of all our transaction records to it

This year the discussion about the gap between blockchain expertise and interest has grown. Deloitte’s blockchain survey from earlier this year, revealed very interesting statistics. Over 70% of executives think they are either “experts” or “excellent” in the blockchain field.

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