Tag: Blockchain

zim-&-marius-nacht-complete-additional-investment-in-wave-bl,-a-leading-provider-of-a-paperless-bill-of-lading-solution

ZIM & Marius Nacht complete additional investment in WAVE BL, a leading provider of a paperless Bill of Lading solution

March 17, 2021 Published by

 

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) and Marius Nacht, one of Israel’s leading serial entrepreneurs and investors, announced today that they have jointly invested in a Series B Financing round of WAVE BL, a developer of groundbreaking blockchain network supporting paperless trade in the shipping industry.

The two investors co-lead a round of approximately $8 million that will accelerate global implementation of WAVE BL’s proven technology.

ZIM pioneered the first paperless electronic bill of lading pilot in the shipping industry in 2017 using WAVE BL’s platform and has since widely expanded its use to become the industry leader. Electronic bill of lading is currently offered to ZIM customers worldwide, requiring only a simple onboarding process which is supported by ZIM.

Digitization of bills of lading is revolutionizing shipping documentation, sharply reducing time, complexity, errors and costs for all parties involved, while maintaining a high level of security and, importantly, being far more sustainable than the traditional paper bill of lading.

Aligning with international rules, standards and insurance coverage such as IG P&I Clubs and eUCP 600, WAVE BL’s one of a kind decentralized, digital documentation solution is changing the shipping industry as it becomes the new industry benchmark enabling secure and efficient remote business continuity.

Proceeds will be used to support development of WAVE BL’s business and further implementation of its pioneering technology supporting paperless trade in the shipping industry, as well as in other sectors.

ZIM President and CEO Eli Glickman: “Our early adoption of WAVE BL’s blockchain based platform to promote paperless trade highlights our leadership in utilizing digital strategies to best serve customers and has proven extremely successful for ZIM and for changing the industry. Today, ZIM is an industry leader in paperless shipping processes, and we are seeing growing interest from others in our sector to adopt the platform reflecting the significant benefits it provides to both customers and carriers. This new investment in WAVE BL is a step forward in the path to a more digitized and sustainable future, in accordance with our vision and values.”

ZIM CIO Eyal Ben-Amram: “Since completing the integration of WAVE BL’s platform with our system, we can offer every customer the ability to enjoy the vast benefits of paperless shipping, which is especially crucial during COVID-19. We are pleased and proud to continue our support of this exciting and leading company.”

WAVE BL CEO Gadi Ruschin: “Our partnership with ZIM has enabled us to introduce our pioneering technology to a vast audience as we endeavor to become the shipping industry standard in paperless trade. We are extremely pleased with the continued faith and commitment of ZIM and Marius Nacht in our company and look forward to leading the wave of the future in shipping.”

Ophir Shoham, who leads Marius Nacht’s investments in high-tech: “We are proud to continue supporting WAVE BL’s remarkable technology and believe in its disruptive potential, leading to a fundamental change in the way business is conducted across countless sectors and industries. We are very impressed with the great progress the team has made and excited to invest in WAVE BL’s trail-blazing platform.”

safegraph-raises-$45m-series-b-to-become-the-ultimate-destination-for-physical-places-data

SafeGraph Raises $45M Series B to Become the Ultimate Destination for Physical Places Data

March 17, 2021 Published by

SafeGraph, a data-as-a-service company focused on being the source of truth for data on physical places, announced today a $45 million Series B fundraise, led by Sapphire Ventures.

This investment follows a year of incredible growth for SafeGraph. While the market for accurate geospatial data was already accelerating pre-pandemic, the unique challenges posed by COVID-19 led many organizations to rely heavily on places data. SafeGraph’s points of interest and mobility datasets proved invaluable to organizations looking to understand how local landscapes continue to change, and how this impacted behaviors such as travel, leisure and shopping. During these uncertain times, many organizations such as Ares Management, Sysco and Choice Hotels have turned to SafeGraph as a truth set for the physical world.

In response to the impact of the pandemic, SafeGraph created a community of more than 7,000 data scientists who have been collaborating on numerous geospatial projects, resulting in over 300 academic papers published featuring data from SafeGraph and coverage from data journalists at major news outlets such as USA Today, Fortune and the Washington Post. During this time, SafeGraph doubled its year-over-year revenue while improving efficiency metrics, such as revenue per employee.

Over the past year, SafeGraph saw accelerated demand for places data among its traditional customer segments, including retail and GIS technology providers. As consumer demand and behavior shifted dramatically during the pandemic, the greatest increase in demand has come from the logistics industry. “From the beginning of our data sourcing process, SafeGraph provided the most comprehensive and actionable POI dataset,” said Ben Anderson, Senior Manager of Market, Customer, and Competitive Intelligence at Sysco. “Their coverage of the top 1,000 restaurants is unmatched and invaluable.”

“We’re incredibly excited to partner with Cathy Gao and the Sapphire Ventures team,” said SafeGraph CEO Auren Hoffman. “Cathy brings a wealth of knowledge to the table that will be invaluable while navigating and discovering new markets of data buyers. And Sapphire has deep experience in investing in data businesses. Their team understands what it takes to build category-defining companies.”

With this investment, SafeGraph plans to capitalize on the expanding market of data buyers and offer new ways for customers to buy data. As the market for places data increases, customer needs become more diverse. SafeGraph plans to adapt its model to meet these new demands. Through a growing partner network, new data delivery mechanisms and international expansion, SafeGraph will enable all interested parties to access the exact data they need, wherever they need it.

Multiple investors from previous funding rounds also participated in this Series B. Those include Alex Rosen of Ridge Ventures, DNX Ventures, and Peter Thiel. Investors are attracted to SafeGraph because they believe the company is well-positioned to lead a growing industry.

“What stands out about SafeGraph is how they’ve been able to quickly position themselves into a major player in the geospatial data industry,” said Cathy Gao, Partner at Sapphire Ventures. “By singularly focusing on providing the highest-quality places data to data science teams, they’ve earned the trust of some of the largest public and private institutions. The efficient growth to-date is a strong indicator of where we think the company is going and Auren’s track record of building consequential data businesses speaks for itself.”

Today, SafeGraph offers business listing, foot traffic and building polygon data for the United States and Canada, with a United Kingdom launch planned for April of 2021. With this Series B funding, SafeGraph intends to become the source of truth for data on all physical places in the world.

iqoo-introduces-the-iqoo-neo5-smartphone-with-pixelworks-technologies-to-advance-5g-gaming-experiences

iQOO Introduces the iQOO Neo5 Smartphone with Pixelworks Technologies to Advance 5G Gaming Experiences

March 17, 2021 Published by

 

Pixelworks, Inc. (NASDAQ: PXLW), a leading provider of innovative video and display processing solutions, today announced that the iQOO Neo5 smartphone, which recently launched in China, is the first iQOO brand series and first from vivo to offer consumers ultra-premium display performance with the Pixelworks X5 Pro processor. Powered by patented technologies from Pixelworks, the new flagship smartphone elevates to a whole new level, gaming experiences unleashed by the extreme bandwidths of 5G.

iQOO and Pixelworks worked in close collaboration over the last 6 months to boost display performance of the iQOO Neo5 smartphone for popular mobile games, such as Game for Peace, Hongkai Impact 3, and Perfect World. The iQOO Neo5 features enhanced gaming with optimized motion, color and clarity for high frame rate and high dynamic range (HDR), delivering an experience that is as immersive as it is cool (literally).

The Pixelworks X5 Pro frame accelerator enables silky smooth 120 fps game play at up to 30% lower power consumption and up to 10° C cooler device temperature, as compared to rendering all of the frames in the apps processor. With Pixelworks MotionEngine technology, mobile users no longer need to worry about battery drain or overheating of their phones, as play time for high frame rate gaming can be extended by as much as one hour or more.

The new iQOO performance flagship features a 6.62″ AMOLED screen with 120 Hz refresh rate, peak brightness of 1300 nits and 397 ppi pixel density. Powered by Pixelworks X5 Pro processor, the iQOO Neo5 integrates a number of differentiated features:

  • MotionEngine technology – Patented motion estimation and motion compensation (MEMC) optimizes game content for high refresh rate displays up to 120 Hz to eliminate unintended judder and blur and preserve intended motion appearance.
  • Absolute Color Accuracy – Every iQOO Neo5 unit is factory tuned with Pixelworks patented, high-efficiency calibration and runs Pixelworks color management software to ensure exceptional color reproduction across standard, wide and custom color gamuts.
  • Always-HDR mode – Uses real-time SDR-to-HDR conversion to expose more detail and shades of color for the vast majority of gaming content that exists in SDR (standard dynamic range) format, for an always-immersive experience.

“We are excited to work with an industry leader vivo on their latest iQOO Neo5 smartphone and look forward to jointly establishing a new benchmark of visual quality in next-generation smartphones,” said Todd DeBonis, President and CEO, Pixelworks. “The display is a user’s window to the world, whose quality weighs heavily on the smartphone brand’s value. We believe the combination of the unique design in the iQOO Neo5 and market leadership, along with Pixelworks’ visual processing innovations, will rock the smartphone world by putting unsurpassed cinematic-quality experiences uniquely in the hands of vivo consumers.”

“By incorporating advanced mobile display features in the iQOO Neo5 from a technology leader like Pixelworks, we aim to deliver an unprecedented quality of experience for a wide range of popular gaming and video content in this new generation smartphone,” said Kind Zeng, General Manager of Product, iQOO. “We are delighted to partner with Pixelworks to help revolutionize smartphone displays. We look forward to elevating our customers’ visual experiences through this ongoing collaboration.”

enfusion-wins-best-institutional-investment-solution-at-the-2021-fintech-breakthrough-awards

Enfusion Wins Best Institutional Investment Solution at the 2021 FinTech Breakthrough Awards

March 16, 2021 Published by

 

Enfusion, a global leader in native cloud-based investment management technology software and services, announced today that it has been recognized as the “Best Institutional Investment Solution” in the Fifth Annual FinTech Breakthrough awards. The Fintech Breakthrough awards recognize the top companies, products, and solutions that drive innovation and exemplify the best in fintech across the globe.

The prestigious accolade recognizes the impact that Enfusion’s cloud-native technology and managed service offering has had on global institutional asset managers, particularly in scaling enterprise-wide efficiencies and unifying business operations for timely and confident decision making.

As investment managers continue to shift away from outdated technology systems in a post-pandemic environment, Enfusion has remained focused on providing innovative software and services to meet clients’ evolving operational and data needs. Currently, asset managers around the world utilize Enfusion’s seamless front-to-back office offering to simplify their workflows, reduce their technology footprints, and unify their data, ultimately allowing them to focus on productivity and investment decision-making.

“We are thrilled for this recognition as more and more institutional investment managers, across a broad array of strategies internationally, are taking advantage of our differentiated approach,” said Thomas Kim, CEO of Enfusion. “Our fundamental differentiator lies in our ability to unify an organization on one system and on a single dataset, providing a centralized real-time view, enabling teams across the enterprise to make timely decisions. Our synchronized approach across the investment management lifecycle continues to set us apart and underscores our mission of helping to solve the asset management industry’s most complex and evolving challenges.”

crypto-custody-provider-brane-welcomes-new-advisor,-ibm-partner-and-experienced-technology-executive-martin-lantaigne

Crypto Custody Provider Brane Welcomes New Advisor, IBM Partner and Experienced Technology Executive Martin Lantaigne

March 16, 2021 Published by

 

Brane Inc., a leading cryptocurrency custodian, announced today that Martin Lantaigne, an experienced technology executive and current Partner and Canadian Federal Cluster Leader at IBM, has joined the company’s Advisory Board.

As a member of Brane’s team of advisors, Lantaigne will support Brane’s development into Canada’s leading blockchain innovation company, bringing deep tech sector experience and public sector expertise to the table.

“I’m delighted to join the outstanding team at Brane in their exciting journey to becoming the leading cryptocurrency custodian,” said Lantaigne. “I’m looking forward to working with the Brane team to realize their vision of becoming a bank for the world’s new asset class.”

“Martin brings unparalleled experienced deploying technology at an enterprise scale to help resolve business challenges and shape disruptive business models across a range of industries, including Canada’s public sector,” said Adam Miron, Brane’s Chairman and Interim CEO. “The exceptional bench strength of our board and advisors, ranging from seasoned private sector executives to public sector leaders, is one of Brane’s greatest assets as we embark on a phase of rapid growth. Martin is the perfect addition to this team.”

Lantaigne’s experience in the technology sector spans nearly three decades. Prior to joining IBM Canada, he held a series of senior executive roles at SAP Canada.

Brane’s Advisory Board also includes:

Former Ambassador Bruno Saccomani

Officer-in-Charge, RCMP, Prime Minister Stephen Harper’s Protection Detail (2009-2012)

Ambassador to the Hashemite Kingdom of Jordan and to the Republic of Iraq

Sylvain Viau

37 years of service with the Canadian Armed Forces, retired at the rank of Lieutenant-Colonel in the Communication branch in 2015

Gianluca Cairo

Chief of Staff, Federal Minister – Innovation, Science and Economic Development (2017-2019)

Chief of Staff, Federal Minister – Public Services and Procurement (2015-2017)

Nick Koolsbergen

Chief of Staff – Alberta’s Premier Jason Kenney (2017-2018)

Director of Issues Management – Office of Prime Minister Stephen Harper (2014-2015)

Nathalie Bourque

More than 30 years in public relations, government affairs and financial communications

Devan Pennell, CPA

CFO – Flow Alkaline Spring Water

hollysys’-response-to-ace-lead-profits-limited-misleading-press-release

Hollysys’ Response to Ace Lead Profits Limited Misleading Press Release

March 16, 2021 Published by

Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (“Hollysys” or the “Company”) refers to a press release issued on March 14, 2021 (the “Press Release”) concerning a purported “preliminary victory” by Shao Baiqing (“Mr. Shao”) and Ace Lead Profits Limited (“Ace Lead”) against the Company before the Commercial Division of the Eastern Caribbean Supreme Court, Territory of the British Virgin Islands (the “Court”).

The Company notes that the Press Release contains multiple misleading statements in relation to the Court process, which the Company feels compelled to clarify.

The Press Release states that the Company “was forced to concede that it should be restrained” from relying on certain amendments to the Memorandum and Articles of Association (the “M&A”) made on January 7, 2021 (the “Amendments”), and that the Amendments were “unlawful” and were made for “improper purpose[s]”.  The Press Release also describes the order of the Court as a “major step towards final vindication for the Claimants and all other shareholders of the Company“.

These statements are highly misleading.  The fact is that the Court has yet to adjudicate on the validity of the claim brought by Mr. Shao and Ace Lead and the legality of the Amendments.  Until the final disposition of the lawsuit, the Company has voluntarily undertaken, among other things, that it will not take or fail to take any action pursuant to any of the Amendments.  Mr. Shao and Ace Lead have also undertaken, among other things, not to whether by themselves, their agents, associates or affiliates or otherwise howsoever, give notice to requisition a meeting of the members of the Company for the purpose of making any amendments to the M&A of the Company.  These mutual undertakings have been given by the Company, Mr. Shao and Ace Lead in order to preserve the status quo pending the Court’s adjudication on the substance of the dispute, and the Company’s undertakings are conditional and strictly without prejudice to its position as to the legality and propriety of the Amendments.  As such, the terms of the Order described in the Press Release, which has since been issued by the Court on March 10, 2021, represents an agreement between the parties pending the Court’s final determination of the matter, and not a “vindication” of the Mr. Shao and Ace Lead’s position by the Court.

The Company has also requested that the trial of the lawsuit should take place on an expedited basis in July 2021 such that this matter can be resolved quickly and in the interest of the Company and its shareholders.  Pending the Court’s full and final resolution of this matter, the Company wishes to refrain from commenting on Mr. Shao and Ace Lead’s characterization of the Amendments.

The Company shall make further announcements as and when it receives further material information which should be disclosed in the interest of the investors and shareholders of the Company.  The Board is committed to acting in the best interests of the Company and all its shareholders.

moonstake-partners-with-hybrid-enterprise-grade-blockchain-orbs-to-soon-provide-full-scale-support-for-orbs-universe

Moonstake Partners with Hybrid Enterprise-Grade Blockchain Orbs to Soon Provide Full-Scale Support for Orbs Universe

March 16, 2021 Published by

 

Through this collaboration, Moonstake will soon support the staking of ORBS, Orbs’ official token, on Moonstake Wallet, as well as participate further in the Orbs blockchain ecosystem. The two parties will also host community building programs, research, training, events, and conferences with the goal to increase awareness and adoption of Blockchain and Distributed Ledger Technology in the Banking and Finance Industry. Moonstake and Orbs will discuss further potential provision of consulting services to financial institutions in the regions of Southeast Asia and Middle East.

Moonstake started in the staking business last year with the aim to create the largest staking network in Asia. Since then, Moonstake has developed the most user-friendly wallets for both Web Wallet and Mobile Wallet (iOS/Android) that are compatible with over 2000 cryptocurrencies. After a full-scale operation launched in August 2020, Moonstake’s total staking assets have grown rapidly to reach USD 800 Million in staked assets in 6 months. Within a year of its founding, Moonstake became ranked in the top 10 of the world’s staking service providers and it continues to expand its business strongly.

Meanwhile, Orbs is a prominent hybrid network with a focus on converting businesses to blockchain. The company has partnered with industry leaders from both traditional and decentralized technology sectors, such as IBM and Consensys respectively, to bring blockchain to the field of telecommunications. ORBS, the native token that fuels all activities on the Orbs blockchain including smart contracts, transaction fees, and consensus-based storage is currently ranked #5 in the Top 10 trending crypto coins by CryptoCrunchApp.

Orbs’ vision is to build digital trust at scale by turning the trust-enabling technology of blockchain into a viable competitive strategy for businesses worldwide. By entering into a strategic partnership with Moonstake, the two companies can collaborate to accelerate global awareness and adoption of blockchain and distributed ledger technologies in the field of finance together.

Mitsuru Tezuka, Founder at Moonstake says: “We are very pleased to be a partner with Orbs, the biggest blockchain company in Israel. Moonstake provides easy access for staking globally. Together, we can accelerate global awareness and adoption of blockchain technology for both users and businesses.”

Daniel Peled, Co-founder and CEO at Orbs says: “Orbs is thrilled to be partnered with Moonstake, one of the top 10 staking providers in the world. Through this partnership, we will accelerate the adoption of decentralized technologies and services in the field of finance for the Southeast Asia and the Middle Eastern market.”

interstellar-and-velo-labs-join-forces

Interstellar and Velo Labs Join Forces

March 16, 2021 Published by

 

Today, Velo Labs and Interstellar announced that the Interstellar team, based in San Francisco, CA, is integrating with Southeast Asia-based Velo Labs, under the leadership of Mike Kennedy and with the ongoing support of its partner organizations, Stellar Development Foundation and Lightnet Group.

The strategic partnership between Interstellar and Velo Labs, which began in January 2020, set out to revolutionize international payments. This latest move pushes the relationship closer, bringing the combined strengths and ecosystems of the two organizations — Interstellar team’s knowledge and expertise of the Stellar blockchain and Velo’s established partnerships across the Southeast Asia region — to help build a global settlement network that enables faster, cheaper and more transparent cross-border payments.

Over the course of the last year, with the support of the Interstellar team, Velo has accomplished significant milestones, including the issuance of Velo Tokens on the Stellar network, the listing of Velo Tokens on major exchanges (KuCoin, VCC, OKEx, MXC), the development of the Velo Protocol with core functions (Digital Credit Issuance System, the Digital Reserve System, and the Hermes Warp Protocol), and the completion of its first live transactions using its Federated Credit Exchange network in December 2020. Together in the year ahead as a unified organization, they’ve set out a roadmap to build market-leading solutions for individuals, businesses, financial institutions, and their customers. The company also aims to drive greater adoption of the Velo protocol and increase the number of transactions over the Stellar DEX and Velo FCX.

Mike Kennedy, the current CEO of Interstellar, will take the helm as CEO of Velo Labs. Kennedy was the former CEO and Founder of Zelle.

Mike Kennedy, CEO of Velo Labs, said: “Interstellar has been focused on revolutionizing international payments with the Stellar blockchain technology, specifically in Southeast Asia. Velo and Interstellar joining teams is a natural progression of that work and will accelerate our shared vision to drive implementation and adoption throughout the region. We’ve already accomplished so much together and I am proud to lead this team through the next phase of our growth.”

Chatchaval Jiaravanon, Chairman of Velo Labs: “This announcement is a pivotal point in our long relationship with Interstellar. It signifies the culmination of our core development phase and the commencement of our growth and evolution phase. Working together as one company will enable us to quickly expand Velo’s ecosystem and continue innovation on the protocol to meet our growing list of partners’ needs.”

Tridbodi “Beam” Arunanondchai, Vice Chairman of Lightnet, said: “As our work has progressed over the last year, the opportunity has become clear — we are in a strategic position to provide unprecedented innovation, especially for cross-border transactions, in Asia. To best tap into that opportunity, it is time to bring our combined strengths under one roof. With Mike’s proven leadership in payments and his team’s technical and strategic blockchain expertise at Velo, we can deliver solutions faster to our growing list of customers and partners.”

Jed McCaleb, Founder of Interstellar and the Stellar network, said: “This is a significant step for the Stellar ecosystem, with potential to drive more anchors to the network, creating new on/off ramps in Asia and business opportunities for both Velo and Stellar communities. It ultimately moves us closer to the future we want to see, where Stellar is connecting global financial infrastructure so that it’s faster, more affordable, and more accessible.”

ccoin-network:-fiat/crypto-transfers-at-zero-fees

CCoin Network: Fiat/Crypto transfers at zero fees

March 15, 2021 Published by

 

CCoin Network was created as a real solution for banking and cryptocurrency issues: high fees, time required for payments execution, low security and loss of value.

CCoin Network Ecosystem is a Fintech group of companies with its own blockchain known as ‘SourceLess Hybrid Blockchain’, in which the main purpose is to change the financial functionalities to the benefits of its users. The system was created to have multiple functions, in which Cryptocurrency and FIAT, inside CCoin Network Core software allow almost instant interchange, without users interactions based on AI and SourceLess Blockchain .

The Blockchain MVP will be publicly released during the Public Sale of their token ccoinnet/CCOS (ERC20 on Ethereum Blockchain), starting 15 march 2021 .

Behind the project, there are 3 companies, CCoin Company LTD. – UK/Token Owner, SourceLess INC./USA Blockchain, and SourceLess Network SRL – Romania/Development.

As stated in CCoin Network’s Whitepaper, buyers will have not just a token but will also own stocks of the Blockchain – SourceLess INC corporation and personal/business – web addresses (STR.Domain). As they declared, CCOS are tokens, stocks-ownership proof and str.domain addresses-ownership proof .

The company held a Private Sale starting March 2020 which was successful, with a total 87% sold, to a +30000 members community from the entire quantity of CCOS disposed for the Pre-ICO. Now they are putting on the market an ICO, the quantity of 6.3 M CCOS .

CCoin Network will begin migration from Ethereum Blockchain to SourceLess Blockchain starting 15 July 2021 .

CCoin Network previously announced the following deals with other companies which will Beta-test payments through their Crypto-POS Systems, in which, fees are dissolved into the system and they are also testing the eligibility of – 5% fees based on post-mining additional tokens for each transaction so that can be used at cancelling negative value involved in each transaction. “The concept cannot be revealed at this point as we are getting the best version for financial sustainability,” stated founder Alexandru Stratulat.

The systems are now in testing. During the ICO, they will have weekly updates with test results.

CCoin Network’s team is growing and currently recruiting. Please visit their website for more information.

CCoin Founder Alexandru Stratulat created the architecture of the crypto-financial ecosystem in 2016.

brian-brooks,-former-chief-banking-regulator,-joins-spring-labs

Brian Brooks, Former Chief Banking Regulator, Joins Spring Labs

March 15, 2021 Published by

 

Brian Brooks, the former acting head of the U.S. Office of the Comptroller of the Currency (OCC), has joined Spring Labs, a leading financial technology firm transforming the exchange of sensitive data, as its first independent director. His appointment to Spring Labs’ Board of Directors follows Mr. Brooks’ high-impact tenure at the OCC, the national banking regulator that oversees over 1,200 banks, including JPMorgan Chase and Wells Fargo, that collectively represent 70% of the US banking system’s assets.

“Spring Labs is transforming financial data exchange in a way that is better for consumers,” Brian Brooks said in a statement. “I launched my financial inclusion initiative Project REACH while at the OCC, and I look forward to working with the Spring Labs team to bring the benefits of financial services to more Americans, while reducing cost and increasing security for everyone.”

By fundamentally altering the way consumer financial data is stored and shared, Spring Labs technology offers a unique combination of transparency and privacy that strengthens oversight while also unlocking new data sources that can be used to remove barriers that currently keep as many as 55 million Americans from fully utilizing modern financial services–or from being able to access them at all.

“Brian has a remarkable perspective on where the industry is headed, and his experience has given him a unique lens on transformative technologies and how they are being adopted,” said Adam Jiwan, co-founder of Spring Labs. “We are thrilled that he shares our vision as we build the secure rails for data exchange.”

The Spring Labs’ network technology is built on modern cryptography, which allows the visibility of information shared by network participants to be strictly controlled, and a permissioned blockchain, which provides a time-stamped, immutable record and audit trail to all network participants. This combination of data opacity and transaction transparency is a key to resolving the age-old problem of information sharing among competitors, as well as providing regulatory transparency without inhibiting competition.

In addition to financial inclusion, Mr. Brooks sees the Spring Labs platform as key “middleware” that builds upon another legacy of his time at the OCC: integrating digital assets, such as cryptocurrencies, into the traditional financial system to allow the new technology to securely scale within federal regulatory frameworks, including KYC/AML and compliance laws.

Spring Labs has raised over $38m and built an industry-leading partnership with over 50 major financial institutions, including GM Financial, SoFi, and Avant. In December, the company announced the launch of their network among PACE energy loan lenders. The technology has been credited with catching fraud at a rate of 1% of originations, saving an estimated 10% of annual industry revenue.

Spring Labs counts numerous industry veterans as advisors, including Gary Cohn, former President of Goldman, Sachs & Co, Bobby Mehta, former CEO of TransUnion, Nigel Morris, co-founder of Capital One, and Sheila Bair, former Chair of the FDIC.

Prior to his tenure at the OCC, Mr. Brooks was chief legal officer at Coinbase Global and Executive Vice President, General Counsel, and Corporate Secretary of Fannie Mae. Before those positions, Mr. Brooks was vice chairman at OneWest Bank and managing partner at global law firm O’Melveny & Myers LLP. Mr. Brooks holds a bachelor’s degree from Harvard University in government and a law degree from the University of Chicago.

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