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wilslaw

Ex-NATO Chief, Danish PM now advises Concordium

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Anders Fogh Rasmussen, once Denmark’s primeminister and NATO’s secretary general, has become the strategic advisor of blockchain identity startup Concordium.

 

In an announcement made on Wednesday, Lars Seier Christensen (the Switzerland-based firm’s chairman) said Ramussen will play a very important role in the global expansion plans of the firm.

Christensen established Concordium and was also the founder and ex-CEO of Saxo Bank. The startup is creating what it describes as an identity (ID) and know-your-customer (KYC)-validating, regulatorily compliant blockchain network.

 

A proof-of-concept (PoC) of the service was launched by the firm back in January, with a beta release expected in Q3 of this year and a full public launch in Q1 2020. Christensen said Concordium plans to move into areas that would require a blockchain solution for “secure and private communications, as well as liaising with governmental departments.” He added that: “The network will support “tamper-proof” voting systems to “protect the institutions of civil society, which are fundamental to the functioning of democracy.”

 

Rasmussen, who served as Denmark’s prime minister for three terms from 2001–2009, and as secretary-general of NATO from 2009–2014, said in the announcement: “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.”

 

Concordium has plans to combine 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). The project is also developing a cryptocurrency called GTU (global transactions unit), also with a built-in compliance function.

 

In January, Hans-Ole Jochumsen (former vice chairman of NASDAQ Europe), also joined the advisory board of the firm to guide the firm on its compliance efforts with his expertise in taxation, know-your-customer (KYC) practices and transaction provenance.

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