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Friday, October 12, 2018

Trump's economic adviser leaves the White House - for a job in blockchain...

Gary Cohn has quite an extensive background when it comes to the world of finance.

Cohn was President of Goldman Sachs before joining the Trump administration as economic adviser - where he was credited with having a large role in drafting the administration's tax plan.  He left the White House in March, and no one knew where he would land next.

Now we know his destination is the blockchain industry "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.

The company is called Spring Labs, and is located in Southern California, where it's using blockchain technology to securely transfer people's credit data. He describes the challenges he's taking on there, saying:

"When you look at the two challenges Spring Labs has, one is building the technology. Once you’ve built the technology you’ve got to get it accepted and adopted."

Spring Labs raised $14.8 million through VC funding earlier this year, but it's still unknown what Cohn's compensation plan includes. The company press release on their hire of Cohn can be read here.

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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk