One of the latest trends in the blockchain world is former government workers taking up positions in blockchain firms after their public service careers come to an end, reported by Barron’s on February 11, 2019.
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The world of politics is famous for being very volatile with a somewhat rotating door for people gaining and leaving powerful positions on a fairly regular basis. When these people do leave public service, it is not uncommon for them to go into the private sector or write tell-all books. Now, it seems the new fashion trend for former public servants is joining the blockchain industry.
This can be seen in the recent cases of former high profile civil servants being employed by blockchain firms after leaving their positions. Take Gary Cohn, the former director of the National Economic Council, who began working at Spring Labs in 2018, six months after leaving the Trump administration. Spring Labs, which is based in Chicago and Los Angeles, is described as a “decentralized network for identity and credit to serve as the foundation for a more transparent, secure, and efficient delivery of financial services.”
Cohn said, at the time, that he was excited about the potential applications of blockchain that were being explored from the firm. He commented:
“We all know all the inefficiencies of the existing currency world, and blockchain clearly helps to eliminate them at some point in the future,”
Another high-profile move to a blockchain firm was by former Secretary of the Interior Ryan Zinke, who joined Artillery One as a managing director in January 2019. At the time, it was announced that Zinke would be working to facilitate investment opportunities in energy, fintech, and cybersecurity.
While Zinke’s leaving of the Trump administration was under controversial conditions, the firm stated that his expertise would serve as an asset. “Secretary Zinke brings a wealth of experience and understanding of the workings of business and government,” said Artillery One’s Chief Executive Officer Daniel P. Cannon, adding:
“His expertise in the energy and technology sectors will help Artillery One to continue to expand its consulting and finance business in the core areas of cybersecurity, energy, fintech and digital assets. We look forward to introducing him to our strategic partners and clients around the globe.”
It isn’t overly surprising that friend civil servants are flocking to blockchain as it is an emerging and lucrative industry which gives them a fresh start from the world of politics.