Basis Welcomes John Taylor, Pioneer of Rules-Based Monetary Policy, as Advisor

At Basis, we are borrowing from traditional monetary theory to create a stable cryptocurrency. Cryptocurrency gives us new tools that we can use to re-imagine monetary systems. But in order to unlock their full potential, we believe it is critical to understand the monetary systems that came before.

It is for this reason that we are excited to announce that John Taylor will be joining Basis as an economic advisor. As a pioneer of rules-based monetary policy, inventor of the Taylor Rule, and runner-up for Fed Chairman in 2018, it is hard to imagine someone more fitting to advise us as we work to build an algorithmic central bank*. Prof. Taylor also served on the Council of Economic Advisers and as the Under Secretary of Treasury, working in four presidential administrations.

We expect Prof. Taylor’s expertise will be invaluable to our efforts to marry concepts from traditional monetary systems with the new primitives offered by cryptocurrency. If we are able to innovate on monetary systems, it is by standing on the shoulders of giants. And Prof. Taylor is truly one of those giants.

Prof. Taylor is joining Naval Ravikant on our advisory board. Naval is a co-founder of AngelList and MetaStable and an early cryptocurrency thought-leader.

*Basis is not a bank or engaged in banking business.