Cogint Inc (NASDAQ:COGT) made an announcement on January 15 this month revealing that it has appointed blockchain expert David Drake and the new head of its strategic advisory board, particularly for the blockchain division.
The company selected Drake for the position because he has a lot of experience and is a veteran when it comes to blockchain technology. He will be leading Cogint’s new blockchain division called Red Violet Blockchain and Analytical Solutions. As a blockchain veteran, David has numerous titles under his belt including the fact that he is a chairman and founder of LDJ Capital. The latter has a multi-family office that handles funds all over the world and it has access to more than $1.5 trillion in assets.
Drake’s prominence in blockchain technology makes him an ideal leader and advisor in cryptocurrency, blockchain and ICO markets. He was one of the key people involved in the Jumpstart Our Business Startups Act (JOBS Act) to come up with new U.S regulations for ICOs. David also has stake in hedge funds that have been involved in seed investments, fintech equity, ICOs, and cryptos. In addition to that, he speaks six languages and has a Masters in International Law as well as an MBA in finance.
Cogint CEO Derek Dubner pointed out that Drake is an expert in blockchain as well as its numerous business applications. The CEO also stated that the company was excited to have David on the board assisting the firm in taking advantage of the opportunities ahead of them.
His leadership is expected to help Cogint to advance its initiatives significantly. David also stated that he was excited to be part of the strategic advisory board for the new blockchain unit. He also added that the analytical capabilities, Know Your Customer solutions, and identity verification provided by Red Violet Blockchain and Analytical Solutions will have far-reaching applications. These features will also be important towards the expansion of the blockchain unit. Blockchain technology is still new and developers are still working on new and more efficient ways of handling processes and solving problems.
Cogint stock closed the latest trading session on Tuesday at $4.48.