{"id":88883,"date":"2018-10-13T15:59:35","date_gmt":"2018-10-13T22:59:35","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=88883"},"modified":"2018-10-13T16:04:19","modified_gmt":"2018-10-13T23:04:19","slug":"former-trump-aide-and-goldman-sachs-exec-gary-cohn-joins-blockchain-startup","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/former-trump-aide-and-goldman-sachs-exec-gary-cohn-joins-blockchain-startup\/","title":{"rendered":"Former Trump Aide and Goldman Sachs Exec Gary Cohn Joins Blockchain Startup"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Gary Cohn, a former chief economic aide to President Trump and president of <a href=\"https:\/\/cryptoslate.com\/companies\/goldman-sachs\/\">Goldman Sachs<\/a>, will <span class=\"s2\">join the blockchain startup Spring Labs<\/span> as an advisor, Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-10-12\/gary-cohn-joins-blockchain-startup-spring-labs-as-adviser?srnd=cryptocurrencies\">reports<\/a>. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">More: Gary Cohn is joining blockchain startup Spring Labs as an adviser <a href=\"https:\/\/t.co\/pkatTjrJ3O\">https:\/\/t.co\/pkatTjrJ3O<\/a><\/p>\n<p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1050781091349577728?ref_src=twsrc%5Etfw\">October 12, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Joining the Board<\/h2>\n<p class=\"p1\"><span class=\"s1\">Spring Labs plans to utilize the blockchain to implement a more efficient and secure exchange of credit and identity information between lenders and data providers and believes that Cohn\u2019s financial expertise will help them build their product. Spring Labs co-founder and CEO Adam Jiwan told Bloomberg in an interview: <\/span><\/p>\n<blockquote>\n<p class=\"p1\"><span class=\"s1\">\u201cWe envision him playing a role around helping us think through for developing something that\u2019s regulatory compliant and that others need to see in order to adapt it.\u201d\u00a0<\/span><\/p>\n<\/blockquote>\n<p class=\"p1\"><span class=\"s1\">Cohn echoed that sentiment in an interview with the Financial Times on Oct. 12 saying his goal is to help Spring Labs get their new technology accepted and adopted.<\/span><\/p>\n<figure id=\"attachment_51105\" aria-describedby=\"caption-attachment-51105\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-51105\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/bitcoin-globe-social-300x158.jpg\" alt=\"Ex-Goldman President Says Bitcoin Will Not Be the World\u2019s \u2018Global Cryptocurrency\u2019\" width=\"300\" height=\"158\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/bitcoin-globe-social-300x158.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/bitcoin-globe-social-768x403.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/bitcoin-globe-social-1024x538.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/bitcoin-globe-social.jpg 1200w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-51105\" class=\"wp-caption-text\">Related:\u00a0<a title=\"Ex-Goldman President Says Bitcoin Will Not Be the World\u2019s \u2018Global Cryptocurrency\u2019\" href=\"https:\/\/cryptoslate.com\/ex-goldman-president-says-bitcoin-will-not-be-the-worlds-global-cryptocurrency\/\">Ex-Goldman President Says Bitcoin Will Not Be the World\u2019s \u2018Global Cryptocurrency\u2019<\/a><\/figcaption><\/figure>\n<p class=\"p1\"><span class=\"s1\">Other members of the Spring Labs advisory board include executives from Transunion, <a href=\"http:\/\/cryptoslate.com\/companies\/coinbase\">Coinbase<\/a>, the Federal Deposit Insurance Corporation (FDIC), and Capital One.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">According to the Financial Times, Cohn has a stake in the company, though the report did not disclose how much of it he owns. <\/span>In the official release regarding his new advisory board position, he revealed that blockchain is a long-held interest of his and stated:<\/p>\n<blockquote>\n<p class=\"p1\"><span class=\"s1\">\u201cI 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.\u201d <\/span><\/p>\n<\/blockquote>\n<p class=\"p1\"><span class=\"s1\">Spring Labs already has $15M in startup funding, according to <a href=\"https:\/\/www.crunchbase.com\/organization\/spring-labs#section-overview\"><span class=\"s2\">data from Crunchbase<\/span><\/a>, and Jiwan said the company does not plan to utilize an ICO for additional funding, though they \u201cmight deploy a digital asset.\u201d <\/span><\/p>\n<h2>Digitizing an Analog Industry<\/h2>\n<p class=\"p1\"><span class=\"s1\">Although Cohn has expressed interest in blockchain related ventures in the past and favors the idea of combining the blockchain with banking, he\u2019s come out as skeptical of <a href=\"http:\/\/cryptoslate.com\/coins\/bitcoin\">Bitcoin<\/a>. But he has <a href=\"https:\/\/cryptoslate.com\/ex-goldman-president-says-bitcoin-will-not-be-the-worlds-global-cryptocurrency\/\">gone on record<\/a>\u00a0that a global cryptocurrency is possible, and in an interview with CNBC in May he said:<\/span><\/p>\n<blockquote>\n<p class=\"p1\"><span class=\"s1\">\u201cI do think we will have a global cryptocurrency at some point where the world understands it and it\u2019s not based on\u00a0mining\u00a0costs or cost of electricity or things like that.\u201d<\/span><\/p>\n<\/blockquote>\n<p class=\"p1\"><span class=\"s1\">In an interview with the Financial Times, Cohn said that the partnership with Spring Labs represents a unique opportunity to,<\/span><\/p>\n<blockquote>\n<p class=\"p1\"><span class=\"s1\"> \u201cTake a very, very analog industry and digitize it.\u201d <\/span><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Gary Cohn, a former chief economic aide to President Trump and president of Goldman Sachs, will join the blockchain startup Spring Labs as an advisor, Bloomberg reports. More: Gary Cohn is joining blockchain startup Spring Labs as an adviser https:\/\/t.co\/pkatTjrJ3O &mdash; Bloomberg (@business) October 12, 2018 Joining the Board Spring Labs plans to utilize the [&hellip;]<\/p>\n","protected":false},"author":93,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Former Trump Aide and Goldman Sachs Exec Gary Cohn Joins Blockchain Startup<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/former-trump-aide-and-goldman-sachs-exec-gary-cohn-joins-blockchain-startup\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former Trump Aide and Goldman Sachs Exec Gary Cohn Joins Blockchain Startup\" \/>\n<meta property=\"og:description\" content=\"Gary Cohn, a former chief economic aide to President Trump and president of Goldman Sachs, will join the blockchain startup Spring Labs as an advisor, Bloomberg reports. More: Gary Cohn is joining blockchain startup Spring Labs as an adviser https:\/\/t.co\/pkatTjrJ3O &mdash; Bloomberg (@business) October 12, 2018 Joining the Board Spring Labs plans to utilize the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/former-trump-aide-and-goldman-sachs-exec-gary-cohn-joins-blockchain-startup\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-13T22:59:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-10-13T23:04:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/11\/cryptoslate-cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"John Bogna\" \/>\n<meta name=\"twitter:card\" 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