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Blockchain startup Concordium ropes in former Nasdaq executive as advisor

Thu, 10 Jan 2019, 12:04 pm UTC

Concordium Foundation, a Swiss non-profit behind the ID/KYC blockchain network Concordium, has announced that former Vice Chairman of NASDAQ Europe Hans-Ole Jochumsen is joining its advisory board.

Founded in 2018, Concordium Network is an automated global market place for transaction logging. Its protocol-layer ID/KYC mechanism ensures identification of every user on the network as well as provenance tracking of every transaction.

It seeks to offer a way of ensuring that “agreements made are registered and indisputable, that money was sent and arrived, that a promise of a future service was given or that a transaction between two or more parties have taken place.”

Jochumsen has spent 10 years at NASDAQ, where he rose to the position of President in 2015 and then Vice Chairman of the European region in 2017. He is currently serving as the chairman of Nordax Bank AB, non-executive director of Nykredit A/S and senior advisor at Alkymi.

Concordium will benefit from Jochumsen’s experience navigating regulatory issues such as taxation, KYC, and transaction provenance.

In addition to Jochumsen, renowned cryptographer Ivan Damgård is joining the project as Cryptography Lead on Concordium’s Core Science Team. He is a co-inventor of the Merkle–Damgård-construction, the design principle for cryptographic hash functions that every blockchain in existence relies upon in some form.

“We are thrilled to welcome Hans-Ole Jochumsen and Ivan Damgård to the Concordium team,” says Lars Seier Christensen, Chairman of the Concordium Foundation. “With their guidance, Concordium is even more equipped to become the world’s most trusted platform for secure transactions.”

According to the official release, the Concordium early adopter program is currently accepting applicants.

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