Blockchain Crypto Project ‘Concordium’ Welcomes Former NASDAQ Executive to its Team

As per a new press release issued by the folks over at Concordium, Hans-Ole Jochumsen, ex-Vice chairman of NASDAQ Europe, has officially joined the blockchain startup as a member of the firms’ advisory board.

In terms of his latest job profile, it appears as though Jochumsen will be in charge of overseeing Concordium’s compliance efforts as well as ensuring that the firm’s monetary dealings are carried out in a legal manner at all times. Additionally, he will also be helping the company with things like:

  • Providing his expertise on matters related to taxation
  • Establishing healthy know-your-customer (KYC) practices for the firm.
  • Overseeing transaction provenance.

What Does Hans Bring To The Table?

Jochumsen is a finance veteran who spent a total of nine illustrious years at NASDAQ— including a 3-year stint as its president and a year as the vice chairman for its European wing. Prior to his work with NASDAQ, he headed the Copenhagen Stock Exchange, where he was one of the facilitators for the exchange’s merger with its Swedish counterpart. Lastly, he was also the president of the Scandinavian exchange ‘OMX’ (before it was acquired by NASDAQ in 2008).

In a recent interview with Jochumsen, he was quoted as saying that he had been interested in blockchain technology for “quite some time now”. Elaborating further on the matter, he stated that during his time at NASDAQ, he had been a part of numerous projects related to this niche’ tech domain. For example, he was in charge of setting up a blockchain-based electronic voting system for NASDAQ’s Estonian branch.

Moreover, he added:

“Many people forget that what we see with the financial institutions is that you have a very complicated setup, every county has its own approach, and if you need to do something globally, it’s extremely complicated, and even if in the end the task is solved, somebody has to pay for it, and it’s the customer. In Concordium, there is a great vision for something that financial industry worldwide needs.”

About Concordium

For those of our readers who may not know about Concordium, it is a blockchain initiative that was founded by ex-Saxo Bank CEO Lars Seier Christensen.

In its core essence, the project has been designed to “combine a built-in anti-money-laundering (AML) module along with a KYC function that features zero-knowledge cryptography.” Not only that, but the platform has also been devised in a way such that it is fully compliant with the European Union’s General Data Protection Regulation (GDPR) guidelines.

Concordium’s beta mainnet is scheduled for launch sometime in the third quarter of 2019, while the final product will go live in 2020.

More On The Matter

Even though Concordium seems to have been a bit late at joining the crypto-party, Christensen was recently quoted as saying:

“As a first mover with strong focus and expertise in this area (ID/KYC), we are not late, but really among the first to the real game, one that has not started yet, because early generations of blockchains and cryptocurrencies did not achieve real business use in spite of all the hype,”

He then went on to add

“So the next era is beginning now and this will be the time when the real potential of public blockchains will finally begin to unfold.”

Final Take

In closing, it should be remembered that a few weeks back Jochumsen spoke with a global media outlet wherein he mentioned that he was also in talks with New York-based fintech firm ‘Alkymi' so as to serve as the company's lead advisor.

Last but not least, Jochumsen also currently works as the chairman of Nordax Bank AB as well as acts as a ‘non-executive director’ for Nykredit A/S.

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