The venture firm Andreessen Horowitz (a16z) has created a research division focused on cryptocurrencies and other Web 3.0 technologies.
1/ I’m excited to announce that I’ve joined @a16z crypto as Head of Research! https://t.co/GGPFw0Fls6
— Tim Roughgarden (@Tim_Roughgarden) April 21, 2022
Tim Roughgarden, a professor of computer science at Columbia University, was named head of the department.
«Today we are pleased to announce the creation of a16z crypto research — a multidisciplinary laboratory of a new kind that will work closely with portfolio companies and other projects to solve important problems in the space, and to advance the science and technologies of the next generation of the Internet», the statement said.
The firm said the unit’s goal is the practical application of these technologies. To achieve this, it will be integrated with the protocol development and design team, the legal department, and the marketing group.
The main tasks of the collaboration will be:
- generating ideas to tackle difficult open problems;
- creating production-ready code that will bring them to life;
- implementation of ideas in accordance with applicable rules;
- publication of results.
«Innovation in the space is accelerating. Each new entrepreneurial idea for a Web 3.0 application or protocol typically reveals new research challenges that are fundamental to how this technological movement will develop», the company said.
Earlier, the crypto-focused partner at a16z Chris Dixon topped Forbes’ ranking of venture investors.