A former prime minister of Denmark who was also the former secretary-general of NATO, Anders Fogh Rasmussen, is now part of the blockchain identity startup Concordium. He joined the startup as a strategic advisor.
Concordium’s chairman, Lars Seier Christensen, has revealed that Rasmussen’s role in the firm’s plans for global expansion will be a significant one. The Swiss-based company was founded in by Christensen, who is also the founder of Saxo Bank. Rasmussen, served three terms as prime minister of Denmark from 2001–2009, and as secretary-general of NATO from 2009–2014.
The company is currently working on a new blockchain powered identity (ID) and know-your-customer (KYC)-validating network. Early this year, the company released a proof-of-concept (PoC) of the service. A better release is expected by Q3 of this year and a full public launch in Q1 2020.
The firm has plans to integrate a built-in anti-money-laundering (AML) and KYC function with zero-knowledge proof privacy tech and compliance with the EU’s General Data Protection Regulation (GDPR). A cryptocurrency called GTU (global transactions unit) is also in development. The crypto will also feature a built-in compliance function.
According to Christensen, Concordium has plans to venture into areas which require the used of blockchain technology for “secure and private communications, as well as liaising with governmental departments.” Furthermore, the network will support “tamper-proof” voting systems to “protect the institutions of civil society, which are fundamental to the functioning of democracy, ”.
Speaking on his recent move to join the firm, Rasmussen stated that:
“We are only beginning to see the benefits that blockchain technology will bring to our societies, including in our democratic processes. Concordium’s blockchain-based voting solution offers a means of voting that is trustworthy, quick, and cost-effective. I am pleased to be working with Concordium to make sure that every vote is counted.”
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