Ex-Goldman Sachs President Gary Cohn To Advise Blockchain Startup Spring Labs

16 Octobre, 2018, 03:45 | Auteur: Auguste Feret
  • Former Trump advisor Gary Cohn signs on with L.A blockchain start-up

Thus former White House employee has reiterated his love for blockchain.

The blockchain space became a little stronger today as former Goldman Sachs president Gary Cohn announced that he had joined the advisory board of distributed ledger technology (DLT) startup Spring Labs. Before taking his position at the Whitehouse, the 58-year-old also served as president of Goldman Sachs.

Spring Labs is a technology company with offices in Los Angeles and Chicago and is the core maintainer of the decentralized Spring Network, a blockchain based network that enables financial institutions and data providers to share data and underlying beliefs about credit and identity information.

As the chief economic advisor to President Trump, he oversaw the administration's economic policy agenda at home and overseas, and led its efforts to grow the USA economy through tax and regulatory reform.

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"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", said Cohn in the press release. Avant reports it has upwards of 600,000 customers and has originated more than $5 billion in loans on its platform. "I am excited to actively support their team in the development of this important business and network". This announcement follows the recent news of Spring Labs securing one of the largest seed rounds for a blockchain project, and the finalization of its founding advisory board, comprising industry leaders such as Bobby Mehta, Former CEO of Transunion, and Brian Brooks, Chief Legal Officer at Coinbase. At the moment, the main plans of the Spring Protocol network include allowing people to share their identity and fraud information with financial companies.

The company, which has offices in Los Angeles and Chicago, raised almost $15 million in seed-funding, without an ICO in sight.

"We envision him playing a role around helping us think through for developing something that's regulatory compliant and that others need to see in order to adapt it", Adam Jiwan, the co-founder and chief executive officer of Spring Labs, said in an interview.

Amid this, Spring Labs is expected to have raised $14.7 million through an early-stage fund in just four months of its inception in March 2018 as reported by Forbes.

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