Former Trump economic adviser Gary Cohn is now in a blockchain start-up

CNBC is reporting that Gary Cohn is joining fintech start-up Spring Labs as an adviser, the company announced Friday.

Venture capital-backed Spring Labs uses blockchain technology to securely share consumer credit data. “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,” Cohn says.

The 20-person start-up uses blockchain, the technology that underpins cryptocurrencies such as bitcoin, to swap credit and identity information between banks and corporations.

The former Goldman Sachs president told the Financial Times, which first reported the news, that this was a “unique opportunity,” and “an obvious place to take a very, very analogue industry and digitize.” Cohn has made very few public appearances since leaving the administration, and this is one of the first reports of his next job.

“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,” Cohn said in a press release Friday. “I am excited to actively support the Spring Labs team in the development of this important business and network.” CNBC

The 20-person start-up uses blockchain, the technology that underpins cryptocurrencies such as bitcoin, to swap credit and identity information between banks and corporations. The task of safely transferring consumer credit information has plagued companies such as Equifax, which was hacked earlier this year, subsequently unveiling the private information of 143 million Americans.

Tags: technology, finance, Cryptocurrencies, Former Trump economic adviser Gary Cohn,  Gary Cohn  , blockchain start-up, Trump economic adviser Gary Cohn in a blockchain start-up

Mohsen Daemi
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