One of the main signs that the blockchain and cryptocurrency sectors are being embraced by the mainstream is when legitimate people and groups from established sectors get involved.
Cryptic Labs is a research lab that is focused on the applications of blockchain technology. They have announced that they have a couple of Nobel Prize-winning economists appointed to their board so as to help them when it comes to expanding the reach of their research.
As a company, their main aim is to advance the growing nature of blockchain technology through finding a solution for the fundamental security problems that currently exist. Their Economics Advisory Board now has Sir Christopher Pissarides and Dr. Eric S. Maskin as new members.
They will predominantly be contributing on the front of macroeconomics, as well as in other areas that will help further advance their research efforts.
Some of these areas include game theory, macroeconomic policies, and mechanisms for incentives. This will help to bridge the gap that currently exists between the macroeconomics expertise and the blockchain world.
One of the key team members at Cryptic Labs is Dr. Whitfield Diffie who acts as the chief scientist and is well-known in the cryptography world having been the winner of the Turing Award in 2015.
Pissarides noted – when he was talking about his new position – that blockchain technology in his opinion is the most exciting new development that has come to the financial markets recently. However, there is a ton of work needed in order to help encourage a widespread transition from the current processes towards having transactions being recorded on the blockchain.
There are many established companies that are committed to taking advantage of these advances already, with the likes of Deloitte aggressively expanding on the blockchain side of things as of late.