Blockchain has caught the attention of some powerful figures, but we can’t recall a single instance of a former prime minister leaping into the fray.
That is, until now. Anders Fogh Rasmussen, former Secretary General of NATO and three-term Prime Minister of Denmark, has joined the Concordium advisory team as a strategic advisor.
Rasmussen, who has connections in the public sector and experience managing large-scale nonprofit innovation centered initiatives, will use his strategic expertise to aid in the project’s global expansion, Concordium said in a press release.
Though celebrity endorsements often offer madness, there’s method in Concordium’s aims.
“Anders will play a pivotal role in our global expansion plans to move into areas that require a blockchain solution for secure and private communications, as well as liaising with governmental departments that will benefit from its implementation,” said Lars Seier Christensen, Chairman of Concordium. “With Anders’ guidance, Concordium is better equipped to become a globally trusted network for secure transactions, most notably by improving the integrity of the voting process.”
Concordium, which claims to be the world’s first identity validating, regulatory-compliant blockchain, is developing a KYC/ID ready blockchain network with a security focus. Scalability, security and science are the three main focuses of the Concordium project and their scientific approach, with a dedicated team of cryptographers, is what they say sets their blockchain apart.
Among the services Concordium will offer clients are:
- Programmable accounts: Smart contracts in which the user can set rules on how funds are transferred and managed, and which execute automatically under proper conditions.
- Hyper-transactions: Give users greater control over whether contracts are executed, and greater freedom to decide what information is necessary from third parties before completing a transaction.
- Identity Layer: New users will be onboarded through a Trusted Identity Issuer that screens and verifies a user’s ID before granting full access, ideally ensuring there’s nothing rotten in the state of their application.
- Transaction Privacy: Whereas most blockchains have users transact anonymously on a public blockchain, the Concordium blockchain is privatized with Zero-Knowledge proofs.
The scope and scale of the Concordium project is ambitious. They want a total overhaul of traditional information tech methods, and a smart contract network compliant with all legal requirements.
So is this project to be, or not to be? With the caliber of team members and advisors the project continues to build, a large scale implementation of these goals may be within the realm of reality.
The author is invested in digital assets, but none which is mentioned in this article.