One of the major indicators that the crypto and blockchain space is being taken seriously is when notable figures from the traditional industries crossover and works within companies in this developing space.
Goldman Sachs is one of the largest investment banks in the world. They have had an up and down relationship in recent times with the crypto sector. They have previously dismissed the crypto sector as being a fad, while more recently they have been discussing potentially launching their own trading desk.
Gary Cohn is a former president at Goldman Sachs and he is now an advisor to a blockchain startup called Spring Labs.
This startup is working on the idea of the decentralization of identity and credit information. There are some other notable advisors working with this startup. They include Coinbase’s chief legal officer Brian Brooks and the previous chairwoman of the Federal Deposit Insurance Corporation.
Cohn talked about why he decided to get involved in this project in a press release. He talked of his interest in blockchain technology that stretches back a number of years. He also talked about the impact he envisions Spring Labs to have on the financial world and is excited to be part of this type of project going forward.
While he might have an interest in blockchain technology, he has never been too keen on cryptocurrencies. He is a previous economic advisor to President Trump, but after there were some disagreements, he removed himself from this position in March.
To date, Spring Labs has raised almost $15 million. They have a strong team behind them and they are only going from strength to strength. The acquisition of Cohn is significant, as it gives them a lot of clouts when it comes to forming partnerships and relationships with key groups in the space.