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The former chief economic advisor to the president of the United States, joining a blockchain startup is in today’s latest blockchain news.

Gary Cohn will be joining Spring Labs, a company that works on developing a blockchain network for financial data sharing. Cohn was also a president and chief operating officer at Goldman Sachs. He will now be joining Spring Labs’ board of advisers providing his years of experience and understanding of the complex issues of the global financial markets.

Cohn explained in a press release:

‘’ 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.’’

Spring Labs is a U.S.-based startup which is a uses a blockchain-based protocol that makes possible to share information without sharing source data. Spring Labs’ network will allow identity sharing and fraud information between different financial institutions.

The CEO of the company expressed his excitement to work with Cohn and said that he looks forward to executing the company’s vision of how information and data are shared across major industries.

It’s no wonder why Spring Labs wants to cooperate with Cohn. He spent 25 years working at Goldman Sachs and also served as a director of the US National Economic Council. Also, while working for President Trump, he had his eyes over the entire administration’s economic policy agenda and worked in order to help grow the US economy through regulatory and tax reforms.