US block chain startup Spring Labs announced that 16 fintech companies have joined their affiliate program prior to the release of their Spring Protocol. This is clear from a press release on 17 January.
About Spring Labs
Spring Labs, which raised € 13.2 million last year, plans to roll out anti-fraud technology in the form of blockchain-powered, private P2P data-sharing technology.
At the same time, it launched the Spring Founding Industry Partners (SFIP) program. This is a research initiative made up of partners who want to further reduce data fraud and promote security before publishing the protocol.
Now 16 other small businesses and private fintech lenders have joined the program.
The new fintech lenders
“As more and more financial transactions are processed online, novel, mission-critical fraud and ID verification solutions based on information sharing must be developed,” said Noah Breslow, CEO of OnDeck Capital, one of the new participants, in the press release:
“We believe the Spring Labs team has the right background to help industry leaders develop a new and innovative network.”
P2P Blockchain technology
In October, Spring became the focus of the press when it became known that Gary Cohn, the former chief business advisor to US President Donald Trump, was hired to work on the company’s advisory board.
The role that P2P blockchain technology could play in data security has recently become very important to various actors. Projects have been launched, such as CoinBene’s Internet of People, which is also underway.
Also published on Medium.