Its raining fintech companies! At least it is for Spring Labs, which is a blockchain-based startup in the United States. In a press release published on the 17th of Jan, the company revealed that a total of 16 fintech companies had joined its partner program. And all the 16 companies have made this move before the launch of Spring Lab’s Spring Protocol.
Spring Labs has been in the list of some of the most impressive startups, as it managed to raise a handsome $15 million in funding just last year. The main goal of the startup is to rid the world from the menace of fraud, and it intends to do that by launching an anti-fraud technology in the form of private P2P data sharing technology, powered obviously by the revolutionary blockchain technology.
The startup, however isn’t taking one step at a time, it is vigilant and has also convened the Spring Founding Industry Partners (SFIP) Program, a program that is a dedicated research effort and involves partners that are all focused to further fight and ultimately reduce data fraud; in addition to its anti fraud goals the program also focuses on boosting security, before the public release of the Protocol.
Spring Labs did quite the job attracting attention of other fintech leaders.
As an ever-increasing amount of financial transactions move online, new types of mission-critical fraud and ID verification solutions based on information sharing must be developed.
Said Noah Breslow, who serves as the CEO of one of the 16 new participants of the program, OnDeck Capital.
We believe the team at Spring Labs has the right background to galvanize industry leaders around the creation of a new and innovative network.
He further commented in the press release.
Spring Labs has been in the spotlight since the October of 2018, when it revealed its rather impressive hire, Gary Cohn. Cohn served as the former chief economic advisor to the notorious U.S. President Donald Trump. And he was going to work for Spring Labs, being a part of the board of advisors.
Meanwhile P2P’s potential to change the game of data security has become a point of fixation for several players in the blockchain world. Let’s see who actually manages to use it to its full potential. For further details, stay tuned to BlockPublisher.