Research Lab
One question, studied properly.
What happens to value, trust, and exchange when machines, code, and new kinds of assets start behaving like economic actors in their own right.
01
What we study.
We track how the basic building blocks of money are shifting at the same time:
- Thread 01What backs value.
- Thread 02Who is allowed to create it.
- Thread 03How it settles and moves.
- Thread 04Who or what is allowed to hold and spend it.
- Thread 05How it reaches people without being earned in the traditional sense.
- Thread 06Who counts as an economic actor in the first place.
Most people studying this space pick one of these threads. We follow all of them, because they are already tangled together.
02
How we work.
We publish our research and frameworks first, in public, before we ever take on paid work.
We believe the strongest research lab in any emerging field looks less like a consulting firm and more like the early labs that defined entire categories of technology where the direction was clear long before the final product was. We are doing the same thing here, in money and value.

03 / Flagship
Karma Protocol.
Our flagship piece of original research. How AI systems could be governed and incentivized using something money-like because a large amount of human behavior is shaped by incentives, and AI systems making real decisions will likely need an equivalent.
Two research papers published so far. Ongoing work being released as open source. Not a commercial product. The clearest proof of how we think.
04
Founder.
Versiontwo was founded by Vedant Agarwal, a computer science and financial technology engineer.
His background spans autonomous robotics, shipped financial products, go-to-market strategy across multiple companies, and management consulting for some of the largest technology companies in the world.
He writes Hybrid Economies on Substack a publication on emerging technology strategy and where humanity fits inside the systems being built around it.