- Telecommunications Giant Vodafone Leaves the Libra Association
- Group of Central Banks Assesses Developing Central Bank Digital Currencies
- South Korea Might Impose 20 Percent Tax on Cryptocurrency Profits
- Report: Terrorists Increasingly Use Crypto to Raise Funds Anonymously
- Canadian Securities Administrators Subject Crypto Exchanges to Securities Laws
The politics-crypto intersection is characterized by heavy traffic of regulations, enforcement, endorsements, lobbying and more. Recently, another encounter between the two fields was unearthed – and this time with an interesting twist. Gary Cohn, the former senior economic advisor to President Trump, joined the Board of Advisors of the blockchain-based technology company Spring Labs.
The company announced on its new distinguished addition in a press release, citing Cohn’s reshaping of the U.S. economy with regulatory and tax reforms as Director of the National Economic Council, and his prior experience as President and Chief Operating Officer of Goldman Sachs. Cohn himself released the following statement:
“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. “I am excited to actively support the Spring Labs team in the development of this important business and network.”
Regardless of your own personal political affiliations, you have to admit that for a blockchain start-up company, obtaining such a reputable figure is a pretty amazing feat. From a public relations perspective alone (and very often this is the sole role of advisors), it’s a move that certainly raises the profile of Spring Labs significantly.
So what kind of company Spring Labs is, and what exactly does it develop, you might ask? Well, Spring Labs develops a decentralized blockchain-powered network that will allow both financial institutions and consumers to easily share and view all sorts of relevant financial data. It’s definitely one of those functionalities that could save billions of dollars each year for financial institutions.
Recruiting Cohn isn’t just a great accomplishment of Spring Labs alone, but it’s also another attestation to the growing prominence and appeal of companies from the crypto sphere. Sure, maybe Cohn isn’t former President Clinton nor Madonna, but he’s a conspicuous and influential person nonetheless…
One of the most famous anecdotes for which Cohn is known – which is detailed in Bob Woodward’s book Fear: Trump in the White House – is how he swiped paperwork from Trump’s desk that the president had meant to sign in order to withdraw from global trade agreements. For some odd reason, I don’t think that even in the chaotic world of crypto these kind of maneuvers would be necessary…