Spring Labs, the new blockchain company based in the United States, announced that sixteen Fintech companies had joined its partner program before the launch of its Spring Protocol in a press release on January 17.
Spring Labs, which raised $ 15 million in funds last year, aims to launch anti-fraud technology in the form of private P2P data exchange technology, driven by blockchain.
At the same time, it convened the Spring Founding Industry Partners Program (SFIP), a research effort comprised of partners seeking to further reduce data fraud and increase security before the public release of the Protocol. Now, sixteen other small businesses and fintech consumer lenders have enrolled in the program.
“As more and more financial transactions move online, new types of mission-critical fraud and identity verification solutions based on the exchange of information must be developed,” said Noah Breslow, CEO of one of the new participants, OnDeck Capital, in the press release:
“We believe that the Spring Labs team has the right background to drive industry leaders around the creation of a new and innovative network.”
Spring caught the attention of the press in October when she revealed that she had hired Gary Cohn, the chief economic advisor to US President Donald Trump, to work on his advisory board. The role that P2P blockchain technology could play in data security has recently become a multi-player concern, with projects such as CoinBene’s “Internet of People” also underway.