Venture capital firm Andreessen Horowitz (a16z) has created a division to research cryptocurrencies and other Web 3.0-related technologies.

1/ I’m excited to announce that I’m joining @a16z Crypto as Head of Research! https://t.co/GGPFw0Fls6

— Tim Roughgarden (@Tim_Roughgarden) 21 April 2022

The department was chaired by Columbia University computer science professor Tim Roughgarden.

“Today we are pleased to announce the creation of a16z crypto research, a new type of multidisciplinary lab that will work closely with portfolio and other projects to solve important problems in space and advance the next generation of science and technology. It was called the Internet.

The firm noted that the purpose of the department is the hands-on use of technology. To do this, the protocol development and design team is integrated with the legal department and the marketing team.

The main objectives of the joint work will be:

• generating ideas to solve complex open problems;
• creating production-ready code to bring them to life;
• implementation of ideas in accordance with existing rules;
• publication of results.

“Innovation in space is only accelerating. “Every new entrepreneurial idea for a Web 3.0 application or protocol typically reveals new research topics that are fundamental to how this technology movement will evolve.”

Recall that according to Forbes, a16z partner Chris Dixon, focusing on crypto projects, took up the rating of venture investors.