🏅 Nobel Prize winner joins smart contract startup

Nobel Prize-winning economist Oliver Hart whose work revolves around "contract incompleteness" is joining the Prysm Group, a blockchain economics and governance design firm, as a senior advisor. Joining Hart, as Prsym Group senior adviser, is the former chief economist of Microsoft, Dr. Preston McAfee. Hart's work will revolve around designing incentive structures for smart contract agreements both at a protocol layer and at an application layer. According to Hart, "almost all legal disputes have to do with contract incompleteness” which incurs very high costs. Hart believes that if people could write better contracts, those costs will be reduced.