Gary Cohn Has Joined a Blockchain Startup as an Adviser

Blockchain

Blockchain

The U.S. President Donald Trump's former chief economic advisor - Gary Cohn has been appointed as advisor on board by Spring Labs, a solutions provider to build a transparent, efficient, and secure ecosystem to exchange credit and identity information using the blockchain as per the recent news published on 12th October.

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

Cohn echoed that sentiment in an interview with the Financial Times on October 12 saying his goal is to help Spring Labs get their new technology accepted and adopted.

Cohn resigned as director of the US National Economic Council in April, after disagreements with President Trump over trade tariffs.

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. Before taking his position at the Whitehouse, the 58-year-old also served as president of Goldman Sachs.

About Spring LabsSpring Labs (Springcoin Inc.) is a technology company building the Spring Protocol, a blockchain-based network that enables network participants to exchange valuable information without sharing underlying source data.

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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. The venture was set up by members of the founding team and board of Avant, a lending platform and technology company that has served more than 600,000 customers and originated more than $5 billion of loans on its platform. This will make it easier to transfer information such as identity-related documents as well as underwriting information from financial organizations.

The CEO and chairman of the blockchain startup, Adam Jiwan, has affirmed that Cohn brings with him a wealth of experience in the financial sector and a deep understanding of the global financial market.

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

Spring Labs has reportedly raised upwards of $15 million to date through seed funding rounds.

Jiwan also hinted that Spring Labs will have more upcoming news, including "some public announcements regarding the development of the network and partnerships in the coming months".

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