Professor of economics at Stanford Graduate School of Business and senior fellow at the Stanford Institute for Economics Policy Research Susan Athey has been named to the board of directors of decentralized payment network provider Ripple Labs.

Athey's areas of research include online media, advertising and search, and she notably spoke at the New York bitcoin hearings and at CoinSummit San Francisco about her involvement with digital currencies earlier this year.

An authority on digital economics, mathematics and computer science, Athey previously served as an advisor to Ripple Labs.

Speaking about the news, Athey indicated that she believes Ripple Labs is poised for long-term success in the digital currency space.

Said Athey:

"I believe in the future, money will flow through a digital network like Ripple that empowers individuals and institutions alike to instantly and seamlessly exchange many different types and items of value.

The Ripple network provides an opportunity for substantial efficiency gains in the movement of money, and with those gains, global commerce can be expanded."

Ripple Labs co-founder and CEO Chris Larsen welcomed Athey in a separate statement, saying:

Athey studied mathematics, computer science and economics at Duke University, where she received both her bachelor's degree and, later, an honorary doctorate. She received her Ph.D at Stanford and has taught there, as well as at MIT and Harvard.

In addition to her current duties at Stanford, Athey also serves as co-director of the National Bureau of Economic Research's market design working group, and her industry honors include elections to the American Academy of Arts and Sciences in 2008 and the National Academy of Science in 2012.

Earlier this month, Athey sat down with CoinDesk where she discussed bitcoin's potential, the challenges the digital currency faces and its value.