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State Street’s blockchain chief departing bank to set up data privacy startup

May 23, 2019, 5:45AM EDT

State Street’s global chief technology architect Moiz Kohari is leaving his position to launch a startup which utilises blockchain technology for data privacy, CoinDesk writes. Kohari helped develop State Street's broad DLT programme since joining in 2016, having previously served at the London Stock Exchange as head of technological innovation.

Kohari’s new startup project is still in the works, but he says it will treat data as an asset class, hoping to give customers control of their own personal information.

“We are looking at how best to create a software-as-a-service (SaaS) platform that allows enterprises to really provide compliance to [data privacy] regulations and at the same give control of that data directly to the users,” Kohari said. “It will use both DLT and traditional types of data stores such as [Amazon Web Services’] S3. We think this is an underserved area and a great opportunity.”

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