US president Donald Trump’s former chief economic adviser Gary Cohn has joined a blockchain startup.
As announced in a press release, Cohn has joined the board of advisors of Spring Labs. The company, a blockchain technology company, is developing a protocol designed to re-explore how information and data are shared internationally.
Cohn has years of experience in financial roles, including serving in the US president’s administration as well as working as the chief operating officer for the massive banking institution Goldman Sachs.
In the press release, Cohn’s views on the rising technology are laid out:
“I have been very interested in blockchain technology for a number of years, and Spring Labs is developing a network that could have profound implications for the financial services sector, among others. I am excited to actively support the Spring Labs team in the development of this important business and network.”
Spring Labs is currently building the Spring Protocol which stands as a blockchain-based platform to enable participants to exchange information without sharing underlying source data. According to the release, the first use case for the protocol will be used to establish a more secure and efficient environment for the user’s financial data. Earlier this year, the company raised $14.7 million USD in its early-stage investment four months after it was established.
Adam Jiwan, Chairman and CEO of Spring Labs said of the new addition to the advisory board:
“Gary brings a wealth of experience in understanding the complexities of the global financial markets and an unparalleled network. We’re beyond excited to work with him to execute on our vision to transform how information and data are shared globally across a host of major industries. We’re also looking forward to making some public announcements regarding the development of the network and partnerships in the coming months.”